On Wednesday, the Allied Energy Corp (OTCMKTS:AGYP) stock had emerged as one of the notable movers in the market following a key announcement and ended up with gains of as much as 5% as a consequence.
Trading Data
On Wednesday, AGYP stock increased 5.18% to $0.1199 with more than 647.10K shares, compared to volume of 127.66K shares. The stock moved within a range of $0.1122 – 0.1360 after opening trade at $0.1123.
Allied Energy Enters into Joint Venture Agreement with Walker Green Tech
The oil and gas producing company, which is involved in leasing oil and gas reserves in the United States for reworking, announced yesterday that it had gone into a joint venture with the firm WalkerGreen Tech LLC. As per the provisions of the joint venture agreement with the private company, the two entities are going to be involved in pursuing the development and acquisition of properties in the energy sector.
It was a major new announcement from Allied Energy and one that may have led to considerable optimism among investors. In this situation, it may be a good move from investors to get a better idea of WalkerGreen as a company. It had been established back in 2016 for the purpose of targeting specific opportunities in the energy sector and in order to achieve that the company deployed decades of experience possessed by its management. It has worked across a range of sectors starting from global real estate, government and finance among others.
Key Quote
WalkerGreen Tech CEO, Ladda C. Walker, commented on the news: “By entering into the joint-venture agreement with Allied Energy and River Energy Group, LLC, WGT sees the new way to not only lower emissions but to monetize stranded natural gas and perfect solutions for the cryptocurrency industry.”
Technical Data
AGYP stock is trading above the 20-Day and 50-Day Moving averages of $0.11 and $0.12 respectively. However, the stock is trading below the 200-Day moving average of $0.19.
