The past week has seen a fair degree of volatility in the Empire Diversified Energy Inc (OTCMKTS:MPIR) stock. While the stock managed to make a recovery yesterday and clocked gains of 5% for the day, it was still down by as much as 15% for the past week.
Trading Data
On Monday, MPIR stock gained 5.26% to $0.40 with more than 10K shares traded, compared to a volume of 3K shares. The stock moved within a range of $0.2900 – 0.4000 after opening trading at $0.29.
Empire Diversified Energy Appoints Bernard Brown as Chief Operating Officer
The recovery in the stock was triggered by the announcement from Empire Diversified yesterday with regards to the fact that it had appointed Bernard Brown as its new Chief Operating Officer. It is a key executive position in any company and it appears that the investors were quite optimistic about the new appointment.
The appointment went into effect yesterday. In this situation, investors could do well to take a look at Brown’s credentials and make their minds up about the appointment. The company noted in its press release that Brown is a highly experienced executive in the sustainability and energy sectors.
In addition to that, he is also going to draw on his experience to lend able leadership as well as support to the management team of Empire Diversified. Additionally, Brown boasts of significant project management experience for both private as well as public entities.
Key Quote
Commenting on this appointment, CEO Frank Rosso stated, “We are very excited about Bernard and his vision for the Empire Riverfront Complex in Follansbee, WV. Bernard has a great deal of experience working on similar projects and this experience will serve him well as he develops, what we believe will be, (when fully built out) one of the largest ALL GREEN recycling facilities in North America, The Port of West Virginia and the Empire Riverfront Complex.”
Technical Data
MPIR stock is trading below the 20-Day and 50-Day Moving averages of $0.4541 and $0.4894 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.4256. The company has a total market capitalization of $103 million.
