It has been quite a tough time for investors in Pershing Resources Company Inc (OTCMKTS:PSGR) over the course of the past week and it remained the same yesterday as the stock declined by another 8% amidst a selloff.
Trading Data
On Monday, PSGR stock moved down 7.80% to $0.0415 with more than 174K shares traded, compared to its average volume of 142K shares. The stock moved within a range of $0.0415 – 0.0460 after opening trading at $0.0450.
Pershing Resources : Appoints Neil D. Novak, (P. Geo.) as Director of Exploration
That took the decline over the course of the past week to as much as 14%. In light of such declines, it may be a good idea for investors to take a look at a development from yesterday and then work out if a recovery may be possible. Yesterday, the company came into the news cycle after it announced that P Geo and Neil D Novak had both been named as Director of Exploration at Pershing Resources.
Those were both important appointments and although the investors reacted negatively to the news, it may be a good idea to take a closer look at the credentials of the individuals.
Novak had joined the company in 2016 as an Advisor and had then joined the board of directors in the capacity of an independent director in 2018. From now on, he is going to serve in the capacity of an officer at Pershing Resources.
Technical Data
PSGR stock is trading below the 20-Day and 50-Day Moving averages of $0.0513 and $0.0460 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0367.
