This past Friday the Prospect Ridge Resources Corp (OTCMKTS:PRRSF) stock was in the middle of a bit of a selloff and went down by as much as 6% as a consequence. In light of the selloff in the stock, it may be a good time for investors to consider taking a look at the announcement from the company back on February 24.
Trading Data
On Friday, PRRSF stock fell 5.97% to $0.2739 with more than 41k shares, compared to its average volume of 46K shares. The stock moved within a range of $0.2739 – 0.3100 after opening trade at $0.31.
Prospect Ridge Resources Announces Appointment of Toby Lim to Board of Directors
The company announced that after Liam Corocan decided to step down from his position on the Prospect Ridge board, the company had decided to appoint Toby Lim as a director. It was an important move for the company but the announcement did not actually get the thumbs up from investors and the stock suffered from a selloff.
In this context, it may be important for investors to take a look at Lim and his credentials in order to have a better idea about the latest director. Lim has worked as a securities and corporate lawyer for more than two decades and throughout that period, he has served on the boards of a number of publicly traded companies. At this point in time, it may be a good idea for investors to keep an eye on the stock.
Technical Data
PRRSF stock is trading below the 20-Day and 50-Day Moving averages of $0.2746 and $0.4546 respectively. However, the stock is trading above the 200-Day moving average of $0.0703.
