In recent times, the financial technology and software development firm APT Systems Inc (OTCMKTS:APTY) has been in considerable focus among investors and the trend continued on Tuesday.
Yesterday, the stock soared by as much as 20% as investors piled on to the stock in a big way. However, there was no news about the company that might have led to such an upward move. However, it might be related to the announcement last week from the company with regards to the fact that it completed the first unofficial step towards getting compliant with the amendments to the Exchange Act Rule 15c2-11 by the United States Securities and Exchange Commission.
It is an important development for the company and its shareholders, considering the fact that in addition to enhanced transparency investors are also going to get more protection in the OTC Markets. As per the provisions of this amendment, all companies will need to hand over financial disclosures no later than the end of September.
APT Systems stated that it is determined to concluding this process so that it is compliant and its stock continues to trade on the OTC Markets. This announcement may have led to a rise in optimism among investors regarding the stock.
Market Reaction:
On Tuesday, APTY stock went up 20.37% to $0.0143 with more than 104.89 million shares, compared to its average volume of 69.73 million shares. The stock has moved within a range of $0.0109 – 0.0152 after opening the trade at $0.0119 Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0185.
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