Tandy Leather Factory (OTCMKTS:TLFA) stock is on the move Wednesday as investors react to the company uplisting its shares to the Nasdaq.
That uplisting is set to take place today and will have the company switching from the OTC “Pink Current Information” Market. It is possible traders will see the price of TLFA stock squeeze higher after that uplisting.
That would be unsurprising considering the recent squeezes of other stocks that have uplisted. The same has been holding true for companies holding initial public offerings (IPOs) of late. The goal of traders is usually to push them higher before leaving with the profits.
Investors will want to keep that in mind with TLFA as it can make stocks incredibly volatile. While there’s an option for making money with such trades, it’s also a risky matter that could leave traders holding the bag.
Company Leaders Expect the Uplisting to Benefit TLFA Stock
Janet Carr, CEO of TLFA, said the following about the company’s uplisting:
The re-listing of our stock on Nasdaq marks a major milestone for Tandy. Following the completion of our restatement in June 2021 and the Company being current again in its filings since December, Nasdaq’s approval is the final step in coming back from the accounting issues that led to the restatement. We believe that this listing should restore liquidity for our investors and allow for a more active trading market in our stock.
TLFA stock is up 7.5% as of Wednesday afternoon and saw larger gains in morning trading.
There’s more stock news traders will want to know about below!
We’ve got all of the latest stock news investors need to know about for Wednesday! That includes what has shares of Sidus Space (NASDAQ:SIDU), BioVie (NASDAQ:BIVI), and ChargePoint (NYSE:CHPT) stock in the news today. You can find out more on these matters at the following links!
More Wednesday Stock Market News
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- BioVie (BIVI) Stock Pops on Positive Alzheimer’s Trial Results
- Why Is ChargePoint (CHPT) Stock Up Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.