88 Energy (EEENF) May Take Time To Regain Confidence

Earlier this month the oil and gas firm 88 Energy Ltd (OTC: EEENF) had seen its stock collapse by as far as 80% in a single day following an announcement. However, the stock has made a bit of a recovery and is now in consolidation mode.

88 Energy (EEENF) May Take Time To Regain Confidence

At this point, the 88 Energy stock has been consolidating at $0.015 per share. The stock had actually collapsed earlier on this month after Dave Wall, the managing director of 88 Energy, announced that there had been a power failure at two of the company’s high prospect zones due to an equipment failure.

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That news led to considerable panic among investors and eventually there was a massive selloff in the 88 Energy stock. Investors might also choose to keep in mind that 88 Energy would need to continue drilling in those sites before it can confirm a discovery. At this point, it can be said that the stock had a temporary setback and maybe on the path to recovery.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life