Investors piled on to the Camber Energy Inc (NYSEAMERICAN:CEI) stock in a big way on Thursday on the back of a key announcement from the company. The stock ended the day with gains of as much as 31% and it might be a good idea for investors to take a closer look at the announcement. Moreover, the stock soared 190% over the past month.
Key Licensing Deal With Viking Energy Group
Yesterday it emerged that ESG Clean Energy, which is involved in clean energy services for distributed power generation and in net zero carbon footprints, signed a key licensing deal with Viking Energy Group. In this context, it should be noted that Camber Energy holds a majority stake in Viking Energy Group.
By way of this deal, Viking Energy Group is going to have the exclusive rights by way of which it will be able use the carbon dioxide free power generation technology that belongs to ESG Clean Energy all across Canada. It goes without saying that it was a significant development and hence, it was no surprise that investors piled on to the Camber Energy stock in a big way on Thursday. It now remains to be seen if the stock can manage to hold on to its momentum and add to its gains today.