The oil and gas company Lonestar (NASDAQ: LONE) was going to die as the earnings were so negative as even short term gamblers were running away. The stock has been diving below $0.50 due to investors’ shorting massively. As its bankruptcy filing was downgraded by Moody’s from PDR to DPD the stock jumps 123% in premarket on 18 million shares.
Since July 2018 LONE has been plummeting from $9.20 to yesterday’s closed price of $0.2445. Recently, energy stocks have been having uptrends despite struggling crude oil prices but the unelectrified global economy still needs CO2 emitting transports.
Could LONE surpass $1.00 this month? The majority would say, “Yes, as that price is very near”. Therefore, buying LONE shares could double your investment within October without being affected by the falling price of oil and gas.