Energy stocks are finally gaining trust in the emerging economy as biotech firms give big hopes in ending the pandemic. Today in premarket Lonestar Resources (NASDAQ: LONE) jumps 117% instantly on over 350 thousand shares. That’s a very serious move for the penny stock which was beaten by the oil price war and current COVID-19.
Texas-based oil and gas company has now been facing a wide opportunity to increase the revenue and stock as carbon dioxide and natural gas are still highly demanded energy resources despite renewable energy developers are struggling to meet the demand of billions globally.
For decades LONE may grow slowly until EV and the renewable energy industries completely kill the oil and gas business.
Biotech, Tech, and Crypto reporter
Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.