As of December 31, 2023, the annual trading volume in the U.S. OTC market reached $386 billion, with a total of 12,345 companies listed for trading. Among these, 274 new companies entered the OTCQX and OTCQB markets. Specifically, trading in the OTCQX market amounted to $ 78.6 billion, while the OTCQB market saw trading worth $ 5.02 billion. Additionally, trading volume in the OTCPink market exceeded $ 300 billion.
12 companies shifted from the OTC to NASDAQ, while another 4 chose the New York Stock Exchange. Among these, Atlas Lithium Corporation, a U.S.-based mining company, emerged as the largest, boasting a market value of up to $ 323 million.
▲Companies graduated to NASDAQ OR NYSE
▲ Companies graduated to NASDAQ OR NYSE Market in 2023
The advancement of businesses is closely linked with the market environment they navigate. NASDAQ, as a beacon of the U.S. new economy, has historically shown greater openness to innovative sectors like high technology and biopharmaceuticals. In 2023, companies moving from the OTC to NASDAQ were mostly from burgeoning fields such as new energy and healthcare, spanning industries like biopharmaceuticals and electronics. This multi-industry collaborative development structure perfectly aligns with NASDAQ’s market positioning.
The uplist of OTC companies to NASDAQ is not as strict as anticipated. NASDAQ, known for its openness, offers room for various OTC companies meeting transfer criteria. Thus, in practice, the shift to NASDAQ remains viable. With sound growth plans and potential, companies can use NASDAQ for global expansion and gain more market recognition.
