As another trading week begins it is highly likely that the Imperial Petroleum Inc (NASDAQ:IMPP) stock is going to be one of the stocks that is going to be come into sharp focus today. This past Friday the Imperial Petroleum attracted investors in a big way last Friday and ended up with gains of as much as 58% as a consequence.
Trading Data
On Friday, IMPP stock soared 87.93% to close at $2.18 with more than 105.18 million shares traded, compared to its average volume of 3.08 million shares. The stock has moved within a range of $2.1300 – 3.4499 after opening trading at $2.23.
Major Trigger
The company owns ships and is involved in providing seaborne transportation solutions to the crude oil and petroleum industry. While the gains made by the stock were considerable, it is perhaps also necessary to keep in mind that there were no reports with regards to the company that might have led to such enormous gains.
The only news that one could consider is that Imperial Petroleum had submitted a Form F-1/A to the United States Securities and Exchange Commission.
That being said,, experts believe that the filing was not the reason behind the rally in the stock. In this situation, it may be the best course of action for investors to perhaps keep an eye out for any news with regard to Imperial Petroleum over the course of the coming days.
Technical Data
IMPP stock is trading below the 50-Day and 200-Day Moving averages of $2.30 and $2.30 respectively. However, the stock is trading above the 20-Day moving average of $1.90.
