Why CPI Card Group Stock Just Soared 16%

As CPI announced this morning, "The Nasdaq Stock Market ... has approved CPI's application for the listing of CPI's common stock on The Nasdaq Global Market under the ticker symbol 'PMTS,' effective with the opening of trading on August 5, 2021." As CEO Scott Scheirman explained in the press release, "[W]e believe trading on Nasdaq will allow a broader base of investors the opportunity to own our stock." In particular, stock market funds and ETFs that are restricted from investing in smaller, less-liquid OTC stocks will soon be able to buy into CPI Card Group if they want to.