Trading of Unit Corporation makes another step up

  • February 15, 2023

OTC Markets Group Inc unveils the 2022 OTCQX Best 50, a ranking of the top-performing OTCQX companies in the prior calendar year

 

Tulsa’s Unit Corporation just moved up in trading on the over-the-counter market or OTCQX Best Market.

The move was announced Wednesday in a company filing with the Securities and Exchange Commission. It is considered an upgrade from the Pink market.

The OTCQX roster, also called the OTCQX Best Market, includes a large number of blue-chip stocks from Europe, Canada, Brazil, and Russia. These large foreign stocks are frequently global household names.

Unit Corporation’s filing indicated the company stock will continue to trade under the symbol “UNTC.”

The OTCQX is the top tier of the three marketplaces for the over-the-counter (OTC) trading of stocks. The OTCQX is provided and operated by the OTC Markets Group. Stocks that trade on this forum must meet more stringent qualification criteria compared to the other tiers, which are the OTCQB/OTCBB and the Pink Sheets. They have to adhere to governance transparency and cannot be penny stocks.

The over-the-counter (OTC) market is a decentralized market where securities, not listed on major exchanges, are traded directly by a network of dealers. Instead of providing an order matchmaking service as with the NYSE, these dealers carry inventories of securities to facilitate any buy or sell orders.

Jerry Bohnen