88 Energy (EEENF) Stock Soars 35% in a Month: More to Come?
After having gone through a fair degree of volatility, the oil and gas company 88 Energy (OTCMKTS:EEENF) saw its stock make a strong move over the course of the past month.
The stock has come into the radars of many traders in a big way and over the course of the past month, it managed to clock gains of as much as 35%. The fresh momentum in the stock is something that investors need to look into closely before they make any decision one way or another. There are two main factors that drove the rally in the stock. Last month 88 Energy had announced that it had sold off its oil and gas credits from its Alaskan interests for a total of $18.7.
While that was a nice chunk of change for 88 Energy, the company decided to pay off the entirety of its debts amounting to $16.1 million. The company added at the time that the rest of the money from the sale was going to be used for working capital needs and also for strengthening its balance sheet.
The company’s operations are very small when compared to some of the other oil and gas companies, which is why it was such a major development and led to such excitement among investors. The other important development was 88 Energy’s decision to issue as many as 204 million fully paid-up shares in the company at $0.026 a share. The proceeds for the same was used to pick up a 50% stake in Project Peregrine.
Enzolytics Inc (ENZC) Stock Gains Further Momentum: What’s Ahead?
If you are into micro-cap stocks then you might have noticed that Enzolytics Inc (OTCMKTS:ENZC) has emerged as one of the major movers this year so far and the rally in the stock continued over the course of the past week. During that period, the stock attracted plenty of investors and ended up clocking gains of as much as 22%.
Considering the magnitude of the gains made by the stock it might be a good idea for investors to take a look at a development earlier this week that might have brought about the latest rally. The company announced that it inked a letter of intent with Creative Biolabs which stipulates that the two companies are going to work on the commercialization and development of HTLV-1 monoclonal antibodies.
The two companies are going to accomplish that by combining their technologies. It was a significant development for Enzolytics considering the fact that at this point in time there are no antiviral medicines or vaccines that can tackle HTLV-1. As a result, the fact that the company has now decided to collaborate on a project on the same thing has come as a source of considerable excitement for investors.
In this project, the Artificial Intelligence method that belongs to Enzolytics is going to be deployed for the purpose of identifying the conserving immutable target sites that can be found on the HTLV-1 virus. Creative will be responsible for testing the efficacy and neutralising capabilities of the monoclonal antibodies, among other duties.