GBank Financial hits over 2-month high as Nasdaq listing beckons

GBank Financial Holdings

29/04/2025 17:02

** Community lender GBank Financial's GBFH.PK shares rise as much as 3.9%, hitting their highest since early February

** Stock last up 1.4% at $40.05

** GBFH late Monday announced its shares had been approved for listing on the Nasdaq Capital Market and expected to commence trading on April 30

** Las Vegas, Nevada-based GBFH has traded on over-the-counter (OTC) markets since 2021

 ** “Trading on the Nasdaq Capital Market culminates our efforts to provide shareholders with liquidity and consequential share value" - Executive Chairman Edward Nigro

** Likely inclusion in Russell index following Nasdaq listing could boost share price, according to brokerage Janney Montgomery Scott

** Lone analyst covering the stock rates it "strong buy" with $45 PT - data compiled by LSEG

** As of last close, GBFH stock down 8% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))