Shares of Zoetic International PLC (LON: ZOE) surged 14.4% after announcing that it is now trading on the OTCQX Best Market one of the highest level OTC markets in the US, under the ticker ‘ZOEIF’.
The company has been upgraded from the OTCQB Venture Market in a move that is likely to draw more investors to the cannabidiol (CBD) products specialist and further boost its share price.
Zoetic said that the OTCQX market is designed for “established, investor-focused US and international companies” and that graduating to the new market from OTCQB is an “important milestone” and enables firms to build visibility among US investors.
The company also said that it is currently evaluating additional opportunities to improve investor relations and communications in North America In addition to the OTCQX trading, the company also revealed it has been included in the UK MSCI Microcap Index.
Zoetic had a banner year in 2020 marked by a landmark distribution agreement to distribute its products in over 85,000 US convenience stores giving it wide access to the lucrative US CBD market, which could translate into higher revenues for the company.
The company’s shares are trading above the 60p support level and it will be interesting to see if it can break above 80p to establish a new uptrend in the near future.
Zoetic share price
Zoetic International shares surged 14.4% to trade at 76p having rallied from Thursday’s closing price of 66.4p.