The autonomous robotics and drone technology firm RDARS Inc (OTCQB:RDRSF) is one of the entities which could come into focus today after it made a significant new announcement on Wednesday. The company announced yesterday that it had been awarded the much anticipated approval for the Depository Trust & Clearing Corp full service eligibility in the United States.
Market Action
On Wednesday, RDRSF stock fell 45.45% to $0.0150 with 20K shares, compared to its average volume 810 shares. The stock moved within a range of $0.0150 – 0.0150 after opening trade at $0.0150.
RDARS Announces Broadening Of Share Liquidity With DTCC Full Service Eligibility
Following this development, the RDARS shares made the cut for its shares to be held in the Depository Trust Company. On top of that, the shares are going to be serviced and traded through the electronic book-entry system at Depository Trust. It was a major new development for the company and it would be interesting to see if it leads to any major move on the stock over the course of the coming days.
The approval is expected to be a boon for the RDARS stock as well and the company’s Chief Executive Officer Charles Zwebner said as much. He noted that it was an important milestone for the company since DTC eligibility is going to make the stock more accessible in the United States and hence, potentially lead to higher liquidity. He went on to note that the company expected to grow quickly in 2023 and that was another factor which could make this move a major long term boost.
Key Quote
“This is an important milestone,” said Charles Zwebner, CEO. “DTC eligibility will expand the accessibility and liquidity of our shares for U.S. investors. Combined with our anticipated fast growth in 2023 and beyond, this monumental step is part of RDAR’s ongoing commitment to create value for our shareholders.”
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