HUNTINGTON BEACH, Calif. -- Chicago Pizza & Brewery Inc. (Nasdaq:CHGO) announced July 23 that its application for Nasdaq National Market listing was approved and will be effective immediately.
The company's stock traded as high as $10.45 on July 8, but dropped to $7.30 on July 22 in the wake of market-wide sell-offs.
RTX Securities, however, saw the stock's price dip as reason to upgrade its rating from "buy" to "strong buy" on July 22.
Co-CEO Paul Motenko called the listing a significant milestone in the company's growth and a reflection of its positive financial progress.
One year ago, the company's stock traded at $4.77.
Chicago Pizza & Brewery operates 26 casual dining restaurants, some of which incorporate microbreweries.