It Seems Like Nothing Can Stop Far East Energy Corp (OTCMKTS:FEEC)
Since the last time we wrote about Far East Energy Corp (OTCMKTS:FEEC) their stock went nowhere but up. Yesterday wasn’t any different, as the company closed 25.86% above Friday’s close.
FEEC started the week strong registering a 25% jump in yesterday’s trade session. The price went up from $0.1899 in Friday to $0.239 gradually over the course of the day’s trading. Their stock opened with a lower price than it had in the end of last week at $0.1895, but it quickly started to grow and closed at its high of $0.239.
The volume of traded stock was above FEEC‘s average of 1.6 million, as a total of 3.6 million shares changed hands, marking a good start for the company in this week of trading. The total trade value came at $763 thousand, a fact that indicates increased attention in FEEC‘s stock, considering it is the highest for the month. Will this upward movement continue? Probably yes, considering that it is the company’s second day of positive action as it registered nearly the same amount of traded stock as well as trade value and it seems like FEEC‘s stock is gathering even more momentum.
The company is doing good considering they are listed as an OTC Markets company. In fact they are a good example of what a company should look like if it’s aiming at a brighter future. Evidence of that can be found in their latest quarterly report covering the period ended March 31, the numbers of prime interest from which you can see listed below.
- cash: $40 million
- total assets: $116 million
- current liabilities: $37 million
- revenue: $433 thousand
- net loss: $8 million
The situation seems to be pretty solid, but the losses and liabilities are a bad sign. On the other hand, it’s obvious that the company has a decent amount of cash on hand and also a lot more in different forms listed as assets. The good news for now is that they are not being targeted by any paid promoters. If a promotion for them starts, by any promoter who wishes to wash his hands from previous, failed pump jobs, this may be bad for their stock’s movement.
All in all, despite the fact that FEEC are a company operating in the People’s Republic of China and due to the political situation there it’s quite shady what happens within the company, we can say that FEEC are showing good signs, both in the overall company profile and in their stock’s movement. The only threat for now is from pumpers who might target them as a way to fix their previous track record and eventually crash the stock, so be sure to do your due diligence, weigh out all the risks and keep an eye out for any short-term developments if you decide to invest in FEEC.
Taking a look at how yesterday’s trade session went for InVivo Therapeutics Holdings Corp (OTCBB:NVIV) it seems like the people paying for the pump of the company are indeed waiting for the stock price to rise more before they start to dump their stock. Another possibility is that this is part of the plan made from the company’s CEO, Frank Reynolds to raise the interest of investors in NVIV‘s stock, which we covered in one of our recent articles.
Another disappointment for investors from yesterday’s session was Affymax, Inc. (OTCMKTS:AFFY), which we covered yesterday. As stated in the article that we dedicated to AFFY yesterday the momentum of the upward movement of the company’s stock has been stopped as they registered another trade session that ended in the red as they closed at $1.09 yesterday.
