Castellum (NYSEMKT:CTM) stock is on the move Friday as recent volatility follows the shares going through an uplisting yesterday.
That uplisting saw Castellum move shares from the over-the-counter market to the NYSE American Exchange. Initially, it had to cut the uplisting back and that resulted in shares of CTM falling afterward.
However, the tables turned on Friday with shares of CTM gaining. That comes as increased activity has shares of the stock seeing heavy trading today. As of this writing, more than 3 million shares of the company’s stock have changed hands. For the record, its daily average trading volume is roughly half that at 1.6 million shares.
What Is Castellum?
The company focuses on technology services and solutions. Specifically, it focuses on strategic acquisitions in various fields. Among these are “Cyber Security, Information Technology, Information Warfare, Electronic Warfare, Systems Engineering, Software Engineering, and Software Development.”
It’s worth noting that there’s been recent volatility surrounding companies going public. That can also apply to uplistings as it opens the stocks to a larger audience of investors. It’s likely that this partially explains why shares of CTM stock are seeing so much activity and rising today.
CTM stock is up 13.3% as of Friday afternoon.
Investors seeking out more of the latest stock market news will want to stick around!
InvestorPlace is home to all of the hottest stock market coverage traders need for Friday! That includes major investors betting on Revlon (NYSE:REV), a new outlook lifting UnitedHealth (NYSE:UNH) shares, as well as Imara (NASDAQ:IMRA) stock gaining on merger plans. You can read up on all of this news at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.