Major halloysite clay and natural iron oxides producer Applied Minerals Inc (OTCMKTS:AMNL) mainly produces its wares for industrial applications. In recent times, the stock has made a strong move and it continued yesterday as it ended up with gains of 14% for the day.
Trading Data
On Wednesday, AMNL stock surged 14.58% to $0.0110 with more than 2.29 million shares, compared to its average volume of 862K shares. The stock moved within a range of $0.0090 – 0.0125 after opening trading at $0.0090.
Applied Minerals Receives Purchase Order for Its DRAGONITE Halloysite Clay for Use in a Flame Retardant Formulation
The rally seen in the stock on Wednesday took the total gains for the past week to as much as 25%. There was no news about the company yesterday but back on Tuesday, Applied Minerals had made an announcement with regards to the fact that it had received a purchase order to the tune of 22000 pound of treated grade of the company’s DRAGONSITE halloysite clay product.
It was revealed that the product is going to be deployed in the development of a formulation that is going to function as a fire retardant. It goes without saying that such a large order was a major coup for the company and hence, the rally in the stock on Wednesday was perhaps not a surprise at all for many. At this point it may be interesting to follow the Applied Minerals stock and see if it can manage to add to its gains in the coming days.
Technical Data
AMNL stock is trading above 50-Day and 200-Day Moving averages of $0.0088 and $0.0085 respectively. However, the stock is trading below the 20-Day moving average of $0.0152.
