Pleasant Kids Inc (OTCMKTS:PLKD) was a notable decliner during Tuesday’s trading session plunging by 5% on relatively high volumes, which were 0.75 times the 30 day average turnover. Bulls continue to be in total control as Pleasant Kids continues to form higher tops and higher bottoms indicative of the strong bullish momentum. The stock continues to trade above all moving averages. Many traders believe the price action seen over the last couple of trading sessionscould be a mere profit taking move.The MACD oscillators are showing signs signs of a bearish reversal, which is considered to be a huge negative.
In a recent public statement, Pleasant Kids Inc (OTCMKTS:PLKD) announced that it had been up-listed to OTCQB with the stock symbol of PLKD. As per the reports, the company has started the trading on the new platform.
Insights of The Announcement
The entire senior management team of the company is delighted to see this improvement in its listing. Pleasant Kids added in an official statement that it wouldn’t have been possible without the enhanced level of corporate and financial disclosures of the company. The company has been working hard towards achieving the best possible position in the market, and this up-listing shows that its efforts are well in-line with what’s required to achieve the desired results.
Pleasant Kids Inc. hopes that this announcement will enhance the faith of current and future shareholders of the company, and motivate the management team to do better in the coming months. The next target for Pleasant Kids Inc is to earn a listing on a national stock exchange such as NASDAQ in the future. It will do whatever it takes to reach that level in the next calendar year.
Reduction In Authorized Shares
Not long ago, the company had decided to reduce the authorized shares from 950 million to 360 million. The board of directors of the company had approved this reduction after which the company filed a CoA (Certificate of Amendment) with Florida authorities. Even though the authorized shares have been reduced, the preference shares remain intact at 60 million.
According to company’s CEO, Robert Rico, it’s a matter of weeks before Pleasant Kids Inc. executes the next acquisition deal, and this reduction in the common shares is in the best interest of the shareholders. It will continue to take more such initiatives to add maximum value to shareholders’ investment, details of which will be made public at a future date.