Avita trades on the OTCQX, which is the top tier for the over-the-counter trading of stocks. The QX forum requires more stringent qualification criteria compared to the other tiers. So that listing was a very good move and introduction to the US market. That said, the over-the-counter (OTC) is a decentralized market where securities are traded directly by a network of dealers, so instead of providing an order matchmaking service as with the NYSE or NASDAQ, these dealers carry inventories of securities to facilitate any buy or sell orders. As I said, the completion and filing of forms necessary for NASDAQ listing is a relatively straightforward process and can be completed in approx 6-8 weeks. That's the easy part. Getting the support of the market is another story entirely. 1. Avita does not have analyst coverage - Zacks is on/off, nothing from Reuters, etc 2. No significant institutions on board (I would expect & hope that Avita is talking with these groups) 3. minimal public market support - daily trading in the 100k range, much driven by ASX buying Saying this is not 'bashing' Avita in any way, just a recognition that a price surge on the ASX and OTCQX (via ADRs) does not guarantee a successful listing on the NASDAQ or NYSE. Very different animals. Building support in the US market requires a concerted effort. And market cap is only 1 element; revenues (not necessarily positive earnings) remains a critical factor.
AVH Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
(20min delay)