HUSA Stock Price: Houston American Energy crashes down over 35% after recent surge
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UNLOCK OFFER- NYSEAMERICAN:HUSA tumbled on Wednesday as investors take profits from one-day spike.
- The otherwise dormant stock had an unexpected boost during Tuesday’s trading session.
Sometimes it is difficult to pinpoint a specific reason for a stock to shoot up or down at a seemingly random time and for NYSEAMERICAN:HUSA, Tuesday was one of those days. At one point on Tuesday the stock skyrocketed by over 460% from $1.09 to $6.12 per share, before falling back down to $3.01 at the closing bell. The decline continued on Wednesday and Thursday as the Houston-based company shed more than 35% back down to $1.62. While at current levels the stock is trading above its 50-day moving average, another day in the red could easily bring it back below this level.
Houston American Energy is a small oil and gas exploration company that primarily does business in the Gulf Coast region as well as South American companies like Colombia. The company reports having two employees and 5,000 shareholders, which has to raise the question as to why the stock’s trading volume reached over 150 million on Tuesday. While this certainly stinks of a classic pump and dump situation, it is also a reminder to investors of the volatility that comes with trading penny stocks.
HUSA stock news
The trading volume for HUSA returned to normal levels on Wednesday as investors took their profits from the sudden spike on Tuesday. The energy sector, in general, has been beaten up during the COVID-19 pandemic as other industry behemoths like Royal Dutch Shell (NYSE:RDS) announced another round of layoffs this week. Investors should treat Tuesday’s jump as a momentary surge as no real news has been released from the company for months.
- NYSEAMERICAN:HUSA tumbled on Wednesday as investors take profits from one-day spike.
- The otherwise dormant stock had an unexpected boost during Tuesday’s trading session.
Sometimes it is difficult to pinpoint a specific reason for a stock to shoot up or down at a seemingly random time and for NYSEAMERICAN:HUSA, Tuesday was one of those days. At one point on Tuesday the stock skyrocketed by over 460% from $1.09 to $6.12 per share, before falling back down to $3.01 at the closing bell. The decline continued on Wednesday and Thursday as the Houston-based company shed more than 35% back down to $1.62. While at current levels the stock is trading above its 50-day moving average, another day in the red could easily bring it back below this level.
Houston American Energy is a small oil and gas exploration company that primarily does business in the Gulf Coast region as well as South American companies like Colombia. The company reports having two employees and 5,000 shareholders, which has to raise the question as to why the stock’s trading volume reached over 150 million on Tuesday. While this certainly stinks of a classic pump and dump situation, it is also a reminder to investors of the volatility that comes with trading penny stocks.
HUSA stock news
The trading volume for HUSA returned to normal levels on Wednesday as investors took their profits from the sudden spike on Tuesday. The energy sector, in general, has been beaten up during the COVID-19 pandemic as other industry behemoths like Royal Dutch Shell (NYSE:RDS) announced another round of layoffs this week. Investors should treat Tuesday’s jump as a momentary surge as no real news has been released from the company for months.
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