One of the stocks to have had a pretty disappointing during the course of the past week was the Tiger Oil and Energy Inc (OTCMKTS:TGRO). The slide in the stock continued on Friday as it fell by as much as 21% and took its losses for the whole week to 31%.
Although the Tiger Oil stock was in the middle of a strong selloff, it should be noted that the company made an announcement last week that could be construed as positive by most investors. Tiger Oil announced that the application that it made to the OTCIQ had been approved.
That is a significant development for the company since after the granting of the approval Tiger Oil is going to be able to easily send in its filings as well as financials. That will help the company in becoming up to date with the filings as per the deadline that had earlier been set by the United States Securities and Exchange Commission.
Hence, it will be a positive development for the company once it manages to send in those filings on time. It is now going to be interesting to see if the Tiger Oil stock can actually record this week.