As the first trading week of the year rolls in, it is time for investors to scour the market again for fresh opportunities in 2022. One of the stocks that could be on the radars of many investors this morning is the Bam Bam Resources Inc (OTCMKTS:NPEZF) stock.
Trading Data
On Friday, NPEZF stock jumped 11.88 to $0.0810 with more than 819k shares, compared to its average volume of 446K shares. The stock has moved within a range of $0.0630 – 0.0840 after opening trade at $0.0630.
Bam Bam Closes $3.26-million Private Placement
Last Friday, the stock had been one of the notable movers and had managed to bring in gains of as much as 12% as a consequence. That took the gains made by the stock in the past week to as much as 25%. The reason behind the rally may be linked to an announcement from the company back on December 28, 2021.
At the time, Bam Bam Resources announced that the its non-brokered private placement had actually been over-subscribed and had managed to bring gross proceeds to the tune of as much as $3,262,099.75.
It goes without saying that an announcement of that nature can often come as a source of significant positivity among investors and hence, it was not a surprise that the Bam Bam Resources stock rallied so strongly. However, at the same time, it will be interesting to see if the strong momentum in the Bam Bam Resources stock carries on to this week or not.
Technical Data
NPEZF stock is trading below the 20-Day and 50-Day Moving averages of $0.0773 and $0.1015 respectively. However, the stock is trading below the 200-Day moving average of $0.1503. The stock is up 10% in the past week.
