Orbit International Corp. Announces Reinstatement to the OTC Pink Market
Orbit International Corp. (OTC PINK:ORBT) has announced the reinstatement of its stock trading on the OTC Pink Market, effective October 7, 2024.
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Rhea-AI Summary
Orbit International Corp. (OTC PINK:ORBT) has announced the reinstatement of its stock trading on the OTC Pink Market, effective October 7, 2024. This follows a period of trading on the OTC Expert Market since May 16, 2023. Orbit International Corp. is an electronics manufacturer and software solution provider with two main divisions:
1. The Electronics Group: Develops and manufactures custom electronic devices and subsystem solutions for military, industrial, and commercial applications through facilities in Hauppauge, NY, and Carson, CA.
2. The Power Group: Based in Hauppauge, NY, designs and manufactures various power products including AC power supplies, frequency converters, inverters, VME/VPX power supplies, and COTS power sources.
Positive
- Reinstatement to OTC Pink Market, potentially improving stock visibility and liquidity
- Diverse product portfolio across electronics and power solutions
- Presence in military, industrial, and commercial markets
Negative
- Previously delisted from OTC Pink Market, indicating past compliance issues
- No specific financial metrics or growth indicators provided
Details
News Market Reaction – ORBT
The recorded move for ORBT in the trading session of this news was +2.61%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HAUPPAUGE, N.Y., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, announced today that trading of its stock has been reinstated to the OTC Pink Market effective Monday, October 7, 2024. The Company’s stock had been trading on the OTC Expert Market since May 16, 2023.
Orbit International Corp., through its Electronics Group, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facilities in Hauppauge, NY and Carson, CA. Orbit’s Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, VME/VPX power supplies as well as various COTS power sources.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's reports posted with the OTC Disclosure and News service. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT
David Goldman
Chief Financial Officer
631-435-8300
FAQ
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