Camber Energy (CEI) Stock Is Falling: What’s Going On?

In its last trading session, Camber Energy stock closed at $1.6300, down 4.68%. The value of the stock in the pre-market decreased by 4.90% and cost $1.54. Last month, Chamber Energy’s stock reached its highest level in six months at $4.3100. By the beginning of this month, the indicators had fallen to $0.9200. Currently, the law firm Kessler Topaz Meltzer & Check, LLP is investigating violations of federal securities laws on behalf of Camber Energy (CEI) shareholders.

“Camber is a defunct oil company that has not submitted financial statements to the SEC since September 2020, is in danger of delisting its shares next month, and has just laid off its accounting firm in September,” according to a report released by Kerrisdale Capital on October 5, 2021. Its only major asset is a 73% stake in Viking Energy, an over-the-counter firm with a negative book value and a continuity warning that has just violated the maximum leverage agreement of one of its financing agreements.

Lora Nilsson

Finance and Business reporterAfter graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter