When a stock rallies by as cosmic as 2900% in a single week then it is pretty hard for investors to ignore it and hence, it is possibly time to take a look at the remarkable rally in the MDM Permain (OTC: MDMP) stock.
It seems that the small Texas-based oil and natural gas drilling company is in investors’ focus on the back of speculative frenzy. Back on March 10, the company had submitted a Field Work Update at the OTC Markets and that set off the speculation in the stock.
The filing is related to the Lindley ‘A’ Lease well that is owned by MDM Permain and the test results that have been run by the company seem to be positive. In addition to that, it has also emerged that the company is trying to commercialize the reserves that have been found at the aforementioned property. That is another major reason behind the bullish sentiments about the stock.