Over 10 million shares of Castellum’s (NYSE-American: CTM) common stock traded on Friday as a result of the inclusion of the Bethesda, Maryland-based electronic warfare and cybersecurity services provider into the Russell Microcap Index.
“Friday’s activity represents record trading volume for Castellum and helps provide our stockholders with greater liquidity for their holdings,” Mark Fuller, president and CEO of Castellum, said in a statement published Monday.
“With about 14 million shares in our public float, Friday’s trading represented over 70% of our public float,” he added.
Castellum officially became part of the Russell Microcap Index at the conclusion of trading on Friday, June 23.
Fuller said joining the index serves as a key milestone for Castellum, which has turned from an over-the-counter entity into a $50 million-listed company in the past four years.
“The next step for us would be to qualify for the Russell 2000 which requires that we continue to grow the Company both organically and through acquisition. We are shooting to do just that in the next year or two,” Fuller added.
