Recovery Energy, Inc. (OTC:RECV) has been more about loss and less about recovery lately, at least the price of the company’s stock has.
On Monday RECV closed down 3.85% at $1.25, a brand new 52-week low. Yesterday, it opened even lower at $1.20, but by the end of the day RECV managed to climb back up and closed up 3.20% at $1.29.[BANNER]
There are no recent developments to provoke a substantial move in either direction. The bounce may have been a psychological reaction to breaking yet another low so quickly.
The independent oil company has been losing millions. While there have been some changes in management, there doesn’t seem to be anything game-changing for RECV.
It is not very likely just wishful thinking will keep RECV from sinking for long. The company needs to provide something significant and positive, and fast.
