Up Or Down? Ocean Power Technologies Inc (NASDAQ:OPTT) In News

Ocean Power Technologies Inc (NASDAQ:OPTT) stock is moving lower in the opening session. The stock has gained about 23% in the past month.

Major Trigger:

Ocean Power Technologies Announces Planned Transfer of Nasdaq Listing to NYSE American Stock Exchange

Key Highlights:

  • announced today that it will change its listing from the Nasdaq Capital Market to the NYSE American stock exchange.
  • The last day of trading on the Nasdaq Capital Market is expected to be Thursday, June 17, 2021.
  • OPT expects to commence trading as an NYSE American-listed company when markets open on Friday, June 18, 2021. The Company’s common stock will continue to trade under its existing “OPTT” symbol.

Key Quote

“We are pleased to announce our transfer to the NYSE American, where we’ll be listed alongside what we consider to be many of the world’s most forward-thinking companies,” said George H. Kirby, President and Chief Executive Officer of OPT. “As OPT’s portfolio of innovative solutions continues to grow, we want to enhance the visibility of the Company and continue to expand our investor base moving forward in 2021 and beyond. We believe that operating as an NYSE American-listed company will help us achieve these goals.”

Market Reactions  

As of 10:52, OPTT stock fell by 2.50% at $2.52. Total volume so far stood at 1.26 million shares, compared to its average volume of 2.44 million shares.  The stock moved within a range of $2.4800 – 2.6850 after opening at $2.62.

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