So-Called Marijuana Stock VPCO Up-Lists Onto Major Exchange
Effective Friday, May 30, 2014 Vapor Corp (OTC: VPCO) will be moving to the NASDAQ exchange. Florida-based Vapor Corp is a leading supplier of e-cigarettes and vaporizer pens. Vapor Corp. will join GW Pharma (NASDAQ: GWPH) as the second ‘Marijuana-Stock’ listed on a major exchange.
420 Investor Alan Brochstein does not view Vapor Corp as a marijuana company, but does recognize their impact on the industry. "While they are not focused on the Marijuana market, many investors recognize them as a competitor to some of the players who are in both the e-cig and marijuana-accessory markets."
Traders in the marijuana sector may view this up-listing optimistically, because if Vapor Corp can make this positive change, why not other marijuana companies?
The OTC marketplace is incredibly volatile, and with recent SEC and FINRA actions hurting the sector, many investors are not pleased with their investment results. According to the 420 Investor, “this gives hope to OTC investors.”
The press release announcing the up-listing painted an optimistic picture for traders, noting that this represents a key milestone for the company. Jeff Holman, Chairman, President, and CEO of Vapor Corp was quoted in the press release, stating that the “NASDAQ Capital Market will provide [the company] with increased visibility in the market place, greater access to capital, a broader investor base and ultimately help us implement our growth initiatives and enhance shareholder value."
The company will retain the VPCO ticker symbol once it moves onto the NASDAQ exchange, and will continue to trade on the OTC exchange through Thursday.
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