Sixty-Six Oilfield Services Inc (OTCMKTS:SSOF) Stock On Radar After Recent News

On Wednesday, Sixty-Six Oilfield Services Inc (OTCMKTS:SSOF) was in the news after it made a major new announcement through a press release. The company announced that its Tier 1 Regulation A offering had become effective back on October 31, 2022.

Trading Data

On Monday, SSOF stock slumped 2.86% to $0.0017 with more than 9.34 million shares, compared to its average volume of 2.03 million shares. The stock moved within a range of $0.0016 – 0.0023 after opening trading at $0.0018.

Sixty-Six Oilfield Services Completes Regulation A Filing

The company announced that the equity financing that was raised through the offering would be used in order to rejig the operations of Sixty-Six Oilfield Services. In addition to that, it would also be used for the purpose of rolling up the operations of Sustainable Water Solutions Inc, its fully owned subsidiary unit. The company is currently involved in looking into sustainable opportunities and in fact, it is considering changing the name of the company to Sustainable Industries.

As it happens, the company noted in its press release yesterday that it was considering infrastructure initiatives which were green in nature. One of the areas of focus is water treatment technologies which are environmentally friendly, power generation and air handling.

In light of the latest development, it is going to be interesting to see if the stock manages to garner attention from investors over the course of the coming days or not. The latest announcements provided a lowdown of the future of the company.

Technical Data

SSOF stock is trading below the 20-Day and 50-Day Moving averages of $0.0017 and $0.0018 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0022.