New America Energy Corp (OTCMKTS:NECA) stock Moves Up Sharply: What to do Now?

This week the New America Energy Corp (OTCMKTS:NECA) stock has emerged as one of the early gainers and perhaps it is the right time for investors to take a closer look into the stock. On Monday, the stock saw heavy action and ended up recording gains of as much as 23.50% as investors piled on to it in a big way.

The rally in the stock may have been triggered by an announcement from the company yesterday with regards to the fact that it managed to eliminate around $3 million in debts tied up in variable convertible notes and other associated liabilities.

It goes without saying that it was a significant development for the company and the investors recognised it as well. Jeff Canouse, who is the Chief Executive Officer of the company spoke about the development as well.

He stated that in order to become current with the markets, New America Energy had to come up with a range of strategies in order to get their hands of new capital. However, he stated that many of those structures had a negative effect on the New America Energy stock as well. The latest move was meant to correct the situation.