The Microcap Speculator submits: Last December I did a study of all the stocks that "graduated" from the OTC bulletin board to Nasdaq, the Amex, or the NYSE in 2004. In general, I found that these stocks tend to rise after the "graduation" announcement and peak within two to twelve weeks after the switch is made. To take advantage of this pattern, I have set up various alerts intended to tag these announcements. The Yahoo! News Alert service works well for this purpose.
Today I received notice that Uroplasty (OTC:UPST) is moving to the Amex effective Monday, October 3. The announcement was time-stamped 4:00pm, so it probably was not fully reflected in today's price action. If there is a graduation pop, we should see it tomorrow.
I am going to sit this one out for two reasons. First, the chart is not impressive. Second, medical device stocks are not my specialty. The fundamentals seem average to me, but what do I know about urological devices?
DISCLOSURE: No position. Not a recommendation to buy or sell any security. For informational and educational purposes only.