Updated Aug 15 at 7:19am ET.
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Trustar Bankshares began trading on the OTCQX Best Market this week. This is the top tier of the three markets run by the company, reserved for businesses that meet higher financial standards and follow stricter rules for sharing information with the public. For OTC Markets Group, adding new listings is the core of the business. Each new company pays an annual fee to be on the exchange and helps make the market more active, which attracts more traders and data buyers.
Source: GlobeNewsWire
Getty Copper has moved its listing up to the OTCQX Best Market from the lower-tier Pink market. To make this move, a company has to prove it meets higher financial and corporate governance standards. These upgrades are a steady part of how the company grows. When a firm moves to a higher tier, it usually pays higher fees and signals to investors that it is more transparent, which helps keep the exchange's reputation strong.
Source: GlobeNewsWire
The company reported a strong quarter, with total revenue growing 14 percent to about 35 million dollars. Profits rose even faster, increasing 17 percent compared to the same time last year. This happened because the business is highly efficient: it can add new listings and data subscribers without needing to spend much more on its own operations.
Management also returned about 6.6 million dollars to shareholders through dividends. The business continues to benefit from its role as the main place for international and smaller companies to trade in the U.S. without the high costs of a major exchange like the Nasdaq.
American Tungsten has upgraded its listing to the OTCQX Best Market. The company was previously on the OTCQB Venture Market, which is a middle tier for earlier-stage businesses. Upgrades like this are important because they show the tiered system is working. Companies start on the lower rungs and pay more as they grow and seek more attention from investors, creating a reliable stream of recurring revenue for the exchange operator.
Source: Proactive Investors
Siemens Energy, a large global energy technology firm, has upgraded its U.S. trading to the OTCQX Best Market. It previously traded on the Pink market, which has fewer requirements for financial reporting.
Landing a global name like Siemens is a win for the exchange. It proves that even massive international companies see value in using the OTCQX tier to reach U.S. investors, rather than going through the much more expensive process of listing on a major exchange like the New York Stock Exchange.
Source: GlobeNewsWire
No Wall Street analysts cover OTC Marketsyet. That’s common for smaller companies. We’ll show their price targets here once coverage begins.
The company has a habit of clearing the bars set for it, often reporting profits that significantly outpace what analysts expect.
| Expectation | |
|---|---|
| EPS | $0.75 |
| Revenue | $34M |
GlobeNewsWire · Press release · Aug 12
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GlobeNewsWire · Press release · Aug 6
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