American Resources Corporation (NASDAQ:AREC) Extends Fall: Where is the Bottom?

American Resources Corporation (NASDAQ:AREC) stock is down 7% in a week and 18% in a month. The company has included Jeff Peterson as a senior member to boost its American Rare Earth division. Peterson’s focus will be developing and commercializing the Rare Earth division’s isolation, processing, and purification tech suite and broadening the supply of some vital and rare earth component feedstocks. 

CEO Mark Jensen said that as the company executes its American Rare Earth business plan, they are encouraged by opportunities to foster and create sustainable rare earth and vital minerals supply chain.

Recently the company announced progress in the commercialization of rare earth element electrolysis processing tech. The company is in the build-up phase of a previously announced 2kW mobile electrolytic cell REE processing plant in collaboration with Texas Tech University. American Resources has procured additional equipment to boost the functionality of the processing plant. So in the coming months, AREC is a stock worth watching.

Market Reaction:

On Tuesday, AREC stock gained 2.42% at $2.12 with more than 683k shares, compared to its average volume of 2.18 million shares. The stock has moved within a range of $2.0100 – 2.1400 after opening the trade at $2.10. Over the past 52-week, the stock has been trading within a range of $1.1400 – 8.0200.