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

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