88 Energy Ltd (EEENF) Stock Gains Momentum This Morning: What Next?

88 Energy Ltd’s (OTC:EEENF) stock is gaining momentum this morning after dull trading in the past week. At the time of writing, EEENF stock is trading higher by 15% with more than 71 million shares traded hands in the first 60 minutes of trading.

88 Energy Ltd (EEENF) Stock Gains Momentum This Morning: What Next?

The stock had a roller coaster ride in late March as the stock went up from $0.0210 to as high as $0.0919 in just 2 weeks by April 5th.

However, following this big rise the stock crashed 80% on April 6th in a single day after the company revealed a power outage due to equipment failure and other issues that prevented the company from sampling its two highest-prospect zones. As well, further drilling may be required to confirm a discovery.

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Since then, the stock has been trading within a narrow range on low volume in absence of any catalyst.

Keep an eye on EEENF stock in the company session if the stock can gain further momentum.

 

Jack Dawkins

Finance and Tech Contributor