AXP Energy (OTCMKTS:AUNXF) Stock Suddenly Falls 12%: Here is Why
Although there has been no news at all about AXP Energy (OTCMKTS:AUNXF) for quite some time, the stock was in action this past Friday and suffered from a selloff as investors headed for the exits. The AXP Energy stock declined by as much as 12% last Friday and it now remains to be seen if the stock can actually make a comeback today.
Market Stats
On Friday, AUNXF stock ended lower by 12.30% to $0.0050 with more than 15.44 million shares, compared to its average volume of 16.73 million shares. The stock has moved within a range of $0.0050 – 0.0060 after opening trading at $0.0060.
Latest Update
Considering the fact that there has been no news at all about the company in recent times, it could be a good idea to take a look into a development from November last year.
At the time, AXP Energy made an announcement with regards to its Reserves and Contingent Resources assessment as on October 1, 2021. The company noted that it had as much as 2P worth of reserves that was made up of as much as 6.37 million barrels of oil equivalent.
It was a major announcement from the company and must have led to considerable attention for the AXP Energy stock at the time. However, at the same time, it ought to be acknowledged that the latest decline possibly did not have anything to do with the with the decline that was seen in the stock last Friday.
Traders Corner
AUNXF stock is below the 20-Day and 50-Day Moving averages of $0.0059 and $0.0069 respectively. The stock is trading in the neutral zone with the RSI at 33.
