First Energy Metals Ltd (OTCMKTS:FEMFF) Stock Rockets 77% In a Week: Here is Why
Over the course of the past week, investors have move in on the First Energy Metals Ltd (OTCMKTS:FEMFF) stock in a big way and sent it soaring by as much as 77% during the period.
Market Stats
On Tuesday, FEMFF stock fell 11.38% to $0.2656 with more than 49k shares, compared to its average volume of 16.6k shares. The stock has moved within a range of $0.2656 – 0.3110 after opening trading at $0.31.
First Energy Metals Drills 1.35 Percent Lithium Oxide over 7 Meters in Drill Hole Lc-21-21 at Augustus Lithium Property
The rally in the stock may have been triggered by the announcement from the company last week with regards to the results from the drill hole at the Augustus Lithium Property that it owns in Quebec in Canada. The findings from the results were quite positive and hence, it was not a surprise that it led to considerable positivity about the stock among market participants.
First Energy Metals announced that the drill hole that it had made had managed to intersect a specific zone which contained 1.35% of lithium oxide. The discovery was made by the company at a drill depth of 102 metres.
Considering the significant demand for lithium in different industries at this point in time, the excitement about the news among investors is quite understandable. It now remains to be seen if the stock can continue to hold on to its momentum over the course of the coming days. It might be a good time to add the stock to your watch lists.
Market Stats
On Tuesday, FEMFF stock fell 11.38% to $0.2656 with more than 49k shares, compared to its average volume of 16.6k shares. The stock has moved within a range of $0.2656 – 0.3110 after opening trading at $0.31.
