Time to Quit Imperial Petroleum (IMPP) Stock?

Imperial Petroleum (NASDAQ: IMPP) seems to surpass the $1.00 mark today being a lucky penny stock while the majority of shares are plunging on bad news regarding Russian aggression against Ukraine. On more than 35 million shares IMPP is surging 75% at the time of writing. Climbing crude oil price is directly affecting oil and gas stocks but Imperial Petroleum shares are getting a sharp advantage today.

The Strategic Petroleum Reserve: A Policy Response to Oil Price Volatility? | Council on Foreign Relations

If the West sanctions Russia in exporting oil and gas to any country except post-soviet states and China the crude oil price will eventually grow sharply by increasing revenues of oil and gas transportation companies. As a result, IMPP will become trending stock again. So, holding the stock is encouraged to keep your energy portfolio growing.