Anyone who is currently looking into stocks which may have recorded significant gains over the course of the past week may have noticed that the CW Petroleum Corp (OTCMKTS:CWPE) stock has emerged as a significant gainer.
Trading Data
On Wednesday, CWPE stock jumped 1.12% to $0.85 with more than 1.1k shares traded, compared to its average volume of 2.9K shares. The stock has moved within a range of $0.8500 – 0.8500 after opening trading at $0.85.
CW Petroleum Corp (CWPE): 2021 Gross Revenues Exceed $8 Million
During the period, it attracted significant attention from investors and ended up with gains of as much as 6% as a consequence. Yesterday, the company was in the news once again after it made an announcement with regards to its revenues for the fiscal year 2021. The company noted that for that fiscal year, it had managed to surpass gross revenues that it had generated in the fiscal year 2020.
While that was a major announcement in itself and could lead to further action in the stock over the coming days, CW PETROLEUM also made other important announcements. The company noted that it was working diligently in order to further expand its sales capacity with regards to PROPREITARY NO ETHANOL GASOLINE in the Chicago and Northwestern USA markets. At this point in time, it may be a good move for investors to consider adding the stock to their watch lists and watch for the price action.
Key Quote
Chris Williams, Chief Executive Officer of CW Petroleum Corp, shared, “We are pleased to announce a 16-percent increase in gross revenue for 2021. Strong demand for our No Ethanol fuel, along with a surge in consumer demand and higher gas prices, drove growth. We anticipate our bottom line to remain on a positive path as we raise additional funds to expand our footprint in new markets and continue to develop sustainable fuel products.”
Technical Data
CWPE stock is trading above the 10-Day and 20-Day Moving averages of $0.8210 and $0.7820 respectively. Moreover, the stock is above 200-Day moving average of $0.6861.
