AXAS’s performance on Friday was lightning so it grew 28.51% to $0.2763 making investors demand more shares as daily volume increased to 29,427,233 units which are far greater than the average volume. In pre-market trade at 6:41 AM EDT AXAS surges to $0.4320.
After the U.S economy reopens demand for energy products rise, obviously, crude oil (Brent) slowly climbs despite Saudi’s waged price war against Russia’s oil and gas industry. So, other companies’ stocks join this triumphal crowd by gaining positively since last Friday.
Abraxas Petroleum’s actual value is $372,456,000 as of Q4 2019. However, the market cut its value to $46.529 million despite the company has good financial standings and a healthy balance sheet. Most possibly, AXAS could soon balance its both values as dividend-focused investors get attracted steadily.