AmeraMex International Inc (OTCMKTS:AMMX) Stock Jumps After Receiving Equipment Orders
AmeraMex International Inc (OTCMKTS:AMMX), which is involved in providing heavy equipment to companies involved in the logistics sector, saw its stock come into focus yesterday as it ended up with gains of as much as 6% for the day. It also offers its equipment to forestry conservation and infrastructure construction spaces.
Trading Data
On Monday, AMMX stock soared 6.10% to $0.4350 with more than 17.39K shares, compared to volume of 32.64K shares. The stock moved within a range of $0.4100 – 0.4450 after opening trade at $0.4100.
AmeraMex International Receives Equipment Orders Totaling $1.4 Million
The company came into focus among investors yesterday after it announced that it had managed to bag equipment orders to the tune of as much as $1,415,000. The receipt of new orders is almost always seen as a positive by investors and perhaps it was no surprise that the stock ended up with such gains on Monday.
Lee Hamre, who is the Chief Executive Officer of the company, spoke about the latest development as well. He noted that AmeraMex International was lucky due to the fact that it had a diversified customer base. In addition to that, the company had the capability of providing both new and refurbished heavy equipment to those customers so as to fulfil all their logistical needs. He went on to add that the diverse products offered by AmeraMex gave the company an ‘extra layer of protection’ against economic vagaries like inflation.
Key Quote
CEO Lee Hamre commented, “We are fortunate to have a diversified customer base and the ability to inventory heavy equipment, new and refurbished, to fulfill their needs. We consider this diversification an important Company asset as it provides an extra layer of protection against inflation.”
Technical Data
AMMX stock is trading above the 20-Day and 50-Day Moving averages of $0.39 and $0.35 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.40.
