Shares of Mechanical Technology Inc (NASDAQ:MKTY) have been trending higher in premarket today. The price of MKTY stock surged up 37.00 per cent to close the trading at $14.700 yesterday. Compared to its Average Weekly Volume of 105.14K, the volume of Mechanical Technology stock traded on the day was 270.00K. MKTY stock soared after news of its listing on NASDAQ hit the market.
Is the listing taking place soon?
MTI Instruments, Inc. and EcoChain, Inc. are subsidiaries of Mechanical Technology Incorporated. MKTY is engaged in the design, manufacture, and sale of test and measurement instruments and systems through MTI Instruments. The technologies used have been comprehensive, helping solve real-life applications across a wide array of industries.
These industries include semiconductors, data storage, and commercial and military aviation, as well as electronics, solar, manufacturing, and automotive. The EcoChain project is being developed by MKTY to facilitate in the development of cryptocurrency mining facilities that utilize renewable energy and are integrated with the blockchain network.
The Nasdaq Capital Market approved the listing of MKTY shares, as announced the Mechanical Technology in a press release yesterday.
Under its existing ticker symbol “MKTY”, the Mechanical Technology shares are expected to begin trading on The Nasdaq Capital Market at the opening of trading on Tuesday, March 23rd.
On the OTC Markets quotation system until trading on The Nasdaq Capital Market commences, the common stock of the MKTY will continue to trade.
As part of its ongoing efforts to strengthen shareholder value over the long-term, MKTY has achieved an important milestone by uplisting to The Nasdaq Capital Market.
How the listing will benefit MKTY?
As a Nasdaq-listed company, Mechanical Technology Inc (MKTY) stock will be ranked higher than many of its peers, which should improve liquidity and expand institutional holdings of MKTY stock, ensuring continued growth.