These days, Alamo Energy Corp (OTC:ALME) stock was pushed up, not on news, but thanks to some speculative interest.
Though, not considering the recent rush, ALME stock has lost 5% of its value since the latest positive news about the company.
Today, a lot of investors discussed the fact that ALME stock is one of the gainers presently.
Yesterday, ALME rose by 7.14% and closed at $1.20. That positive price change was supported by a trading volume of more than five times the average for the company’s stock.
It was the second meaningful price change since the announced last Wednesday commenced work on the five wells on the H.V Taylor Lease, located in Kentucky.
In contrast to all expectations for a subsequent upward direction of the share price, ALME stock was in constant decline after the news was released.[BANNER]
On the date of the company’s press release, ALME closed the session at $1.26 per share, rolling 0.79% down.
During the last two days, on no further news from the company, ALME stock got suddenly revitalized by certain speculative interest. Within yesterday’s session, the shorting volume was 70% of the total volume traded.
It is a pleasant surprise that ALME shares rushed up. The only bitter fact is that the main factor for the upward move were not the latest developments of the company. Since their announcing ALME shares have lost a substantial portion of their market value.
