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Pharmagreen Biotech Inc. (OTCMKTS:PHBI) Stock Gains Momentum After The News

Pete Matthews , , , ,

Pharmagreen Biotech Inc. (OTCMKTS:PHBI) was up 14.5% after announcing the application submission for uplisting to OTCQB Venture Market.

Market Stats

On Thursday, PHBI stock moved up 14.50% at $0.0275 with more than 1.57 million shares, compared to its average volume of 1.58 million shares. The stock has moved within a range of $0.0226 – 0.0280 after opening the trade at $0.0230.

Submits Its Application for Uplisting to the OTCQB Venture Market

The company told shareholders that they believe the uplisting of the common shares to the OTCQB Venture Market will enhance Pharmagreen’s position in the public market as well as significantly increase visibility to a broad investor base. The OTCQB Venture Market is meant for growing and entrepreneurial firms, and to attain and keep listing in the market, companies have to be current in financial reporting and meet other requirements.

The uplisting to the market, an SEC-acknowledged public market, will offer enhanced visibility in the investment community, including institutional investors. Equally, it will be an opportunity for enhanced liquidity and trading volumes for shareholders. Although the uplisting is a significant milestone for the company, the listing of PHBI stock is subject to OTCQB’s approval and other customary listing conditions. Interestingly, the company meets the conditions necessary to uplist to OTCQB Venture Market. With the uplisting of its stock, PHBI is worth watching.

Key Quote

“Uplisting to the OTCQB, with it being an SEC-recognized established public market, would, in our view, provide greater visibility within the investment community, including institutional investors, and an increased opportunity for greater trading volumes and liquidity for our shareholders. Uplisting to the OTCQB is an important milestone in the Company’s history,” concluded Peter Wojcik.

Traders Corner

PHBI stock is trading above the 20-Day and 50-Day Moving averages of $0.0256 and $0.0264 respectively. Moreover, the stock is trading above 200-Day moving average of $0.0272. The stock is up 23% in the past 3-month.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.