Organicell Regenerative Medicine Inc (OTCMKTS:BPSR) jumped as high as 76% following an announcement from the company about the possibility of up-listing the stock to the NASDAQ Capital Tier market.
As of 12:15 shares of Organicell Regenerative Medicine Inc (OTCMKTS:BPSR) shares are up 18% trading at .2935 gaining .043 on the day. over 38 million shares have traded hands already four times its average daily volume. Earlier in the session, BPSR hit a high of .44 but has struggled to hold all the gains. Potential pivot points to watch are .36 .47 and .62 above and .21 and .17 below.
BPSR revealed that it is currently exploring all the options with regards to the possible uplisting. That being said, Organicell will still need to qualify and get approved. The company would need to satisfy all the NASDAQ rules with regards to its share price, corporate governance, and finances before it can get listed.
For instance, NASDAQ needs a company to have a minimum of $5 million in the form of shareholder equity and the minimum trading price of the common share needs to be $4 each. If Organicell is to meet these requirements, then the company would need to bring in fresh capital. That could be done through public or private offerings. It can also go for a reverse stock split later on in order to meet the minimum stock price requirement rule.
BPSR had a huge run last week and settled back the last two sessions. If BPSR can hold on to its gains today it may stoop the slide and put the rally back on track.
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