One of the biggest movers to the upside in today’s market is little-known company Creatd (OTCMKTS:CRTD). At the time of this writing, CRTD stock is up nearly 17% as investors pile into the micro-cap company.
With a market capitalization of only $5 million, such swings are par for the course for this name. Indeed, Creatd is among the names that got caught up in this year’s meme squeeze, as various volatile small-cap companies sought to root out “naked shorting” and “toxic lending” practices.
Today’s move with Creatd appears to be tied to the company’s decision to change its ticker symbol. Specifically, Creatd announced that the Financial Industry Regulatory Authority (FINRA) has approved its name change. Accordingly, effective April 3, investors will no longer see the CRTD ticker listed. Instead, the company’s ticker will change to VOCL, reflecting the coming adoption of its subsidiary’s name, Vocal.
Let’s dive into what to make of today’s move.
CRTD Stock Surges on Name Change
We’ve seen quite a few prominent name changes in recent years. Whether it’s Facebook to Meta Platforms (NASDAQ:META) or Square to Block (NYSE:SQ), sometimes a name change can do a company good. Other times, not so much.
This company’s volatile nature means any sort of headline like this is likely to create movement one way or another. Over the short term, anything is possible. It appears that this is a ticker speculators will be watching closely.
For those with Creatd on the watchlist, April 3 is the date to keep an eye on. For those who wish to steer clear of such names, though — given the broadly negative trajectory Creatd and other similar companies have been on — this is really a non-news event.
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On the date of publication, Chris MacDonald did not hold (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.