It is almost always a positive for a company’s stock when it makes an announcement is made with regards to the efforts being made for becoming current on the exchanges.
The ProBility Media Group (OTCMKTS:PBYA) stock enjoyed such a rally last week owing to an announcement of that nature. Back on June 16 the company announced that it started with the process of becoming current again as per the rules of the OTC Markets Group Inc and the provisions of the Securities Exchange Act Rule 15c-211. The company is doing so by completing the filing of its obligations.
ProBility announced that it is going to submit its Annual Disclosure Report to the OTC Markets for the years 2020 and 2021. In addition to that, the company is also going to submit the Quarterly Disclosure Reports as and when they become due. In this regard, it is necessary to point out that the company’s fiscal year ends on May 31 every year.
ProBility last provided a report to its shareholders back in February of 2019 and hence, the company again becoming current is expected to come as a major boost for shareholders. It now remains to be seen if the stock can hold on to its momentum today.
Market Reaction:
On Friday, PBYA stock jumped by 21% to $0.0023 with more than 192.07 million shares, compared to its average volume of 86.34 million shares. The stock has moved within a range of $0.0019 – 0.0028 after opening the trade at $0.0019. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0029.
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