Digital Ally, Inc. (DGLY.OB), a leading developer, manufacturer, and marketer of advanced video surveillance products, announced that the company has applied for a listing on the NASDAQ Capital Market. Digital feels that by uplisting to the NASDAQ Capital Market, the company can recognize a host of benefits – including trading on a more transparent market within a widely respected exchange.
As a result of this news, Digital Ally’s stock price rose over 2.5% during Thursday’s trading hours. Whereas the average daily volume was only 63,271 shares, Thursday’s trading witnessed a significant increase in the number of shares that exchanged hands. Thursday’s volume, totaling 157,002 shares, showed that investors reacted favorably to such an important corporate milestone.
Chief Executive Officer of Digital Ally, Stanton E. Ross, specified “We believe that Digital Ally, Inc. now complies with all of the listing requirements for The NASDAQ Capital Market, and we have filed the appropriate documents with NASDAQ to apply for such listing. In light of the strong sales and earnings growth achieved by the Company in recent quarters, we believe it is appropriate to list Digital Ally’s common stock on the widely respected NASDAQ Stock Market. Our goal in seeking this listing is to broaden our exposure to potential investors and improve the trading liquidity of our stock.”
Approval of the listing application is still subject to a qualitative and quantitative standard review process by NASDAQ officers.
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