Yesterday, Emerita Resources Corp (OTCMKTS:EMOTF) was in the news but it did not lead to any positivity among investors and the company’s stock dived by as much as 18% amidst a strong selloff. In light of the sharp decline in the Emerita Resources stock on Monday it may now be a good time to perhaps take a closer look at the announcement.
Trading Data
On Monday, EMOTF stock slid 18.33% to $1.31 with more than 504K shares, compared to its average volume of 144k shares. The stock moved within a range of $1.3018 – 1.5200 after opening trade at $1.46.
Key Details
The company announced yesterday that its request to withhold the resolutions with regards to the Aznacollar administrative case and wait before the Criminal court trial is over had been agreed upon. The Administrative Superior Court of Andalusia agreed with the company’s request.
It was a significant development for the company and the company’s legal team expert in Spain stated that same. It is important since the criminal process is going to be quite advanced when the administrative case is going to be heard. The evidence from the criminal trial could then be used in the administrative case.
In this context, it is also necessary to note that most of the evidence for the criminal trial has already been collected. It could now be a good move from investors to consider keeping an eye on the Emerita Resources stock and watch for any signs of recovery.
Technical Data
EMOTF stock is trading below the 20-Day and 50-Day Moving averages of $1.79 and $1.96 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.
