- The momentum in the stock price of Camber Energy Inc (NYSEAMERICAN: CEI) is continuing this today. These are the details.
The momentum in the stock price of Camber Energy Inc (NYSEAMERICAN: CEI) is continuing this today. Today, the company stock price increased by over 22% during intraday trading. This brings the company stock price to over 84% in the past 5 days and more than 322% in the past month as it went from $0.40 per share on August 16 to a day high of $1.70 today.
Investors who are active on social media platforms have been coordinating a short squeeze on the company shares. And the Camber Energy stock price has been short squeezed multiple times over the past year.
The most recent short squeeze appears to have been triggered by news from the company published in late August. At that time, Camber Energy had announced that its majority-owned subsidiary Viking Energy Group entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy, LLC (ESG) regarding ESG’s patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide (ESG Clean Energy System). This license is exclusive for all of Canada (unlimited number of systems) and non-exclusive for up to 25 locations in the United States.
Investors on social media platforms have been speculating that the company will be releasing its 10-K very soon – which could send the stock price up even more. About 4 months ago, the company was notified by the NYSE American that they were not in compliance with the Exchange’s continued listing standards as set forth in set forth in Section 1007 of the NYSE American Company Guide given the company failed to timely file its Form 10-K for the 9-month period ended December 31, 2020. The delinquency will be cured via the filing of the Form 10-K report.
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