North American Oil & Gas Corp. (OTCBB:NAMG) Opens The Week In The Red
The stock of North American Oil & Gas Corp. (OTCBB:NAMG) has been going through a tough period lately. It rarely registers sessions in the green and the volumes in which the ticker is being traded tend to be below its average.
This has been the situation since NAMG managed to climb above the $1 per share mark in the first session of December and neither optimistic news, nor the Tobin Smith paid promotion which we discussed in our previous article about the company were enough to change the direction.
The last email from the promotion came on December 20 and the following sessions were a disaster in which NAMG dropped as low as $0.338 per share. It seems that the holiday’s managed to bring some optimism and the ticker jumped 32.96% and 20.14% on December 26 and December 27 respectively.
Nonetheless, NAMG returned to its downward course in the following days and managed to finishe only one session in the green. That happaned just before the weekend when the ticker added a small 7.71% to its value and closed the week with a price of $0.461 per share on a small volume.
The lack of news makes the stock rather unpredictable and despite the low volume in Friday and the small percentile gain in price, NAMG started this week on a bad foot, this time with volumes above the average.
The session started with Friday’s closing price and even got as high as $0.47 in the first minutes, but the big amount of traded shares in the first hour pushed it down as low as $0.35 per share.
The stock managed to regain some value and finished the day with a 13.23% loss at $0.40. In the end, the total amount of shares that had switched hands reached 746 thousand and generated $298 thousand in dollar volume.
In any case, given the regular paid promotions and the lack of news coming from the company, NAMG remains a very risky bet. Be sure to do a lot of due diligence and weigh out the risks if you have any thoughts of betting on this stock in hopes that it will regain its above $1 value.
Tiger Oil and Energy, Inc. (OTCMKTS:TGRO) also had a bad start of the week as their stock lost a hefty 42% in value. GreenGro Technologies Inc. (OTCMKTS:GRNH) on the other hand is still riding the medical marijuana hype and added a massive 76% to its price on a high volume.
