HXPN Inc. (OTCMKTS:HXPN) Up Big: Will it Hold?

Market Action

HPXN stock is moving up sharply. As of 9.58, the stock is trading higher by 246% to $0.111 after soaring as much as 550% earlier in the session. More than 1.85 million shares have traded hands, compared to its average volume of 17K shares. Moreover, within the first 30 minutes of trade, 250 trades have been done – 25X its daily average.  The stock opened at $0.05 and reached a high and low of $0.209 and $0.045. HXPN made a new 52-week high of $0.209.

HXPN, Inc. Announces New Leadership

On Thursday’s morning, the company announced addition of new leadership, Here are the key highlights:

·         Stephen (Steve) L. Bailey has been named as Chairman of the Board, President and Chief Executive Officer, as well as interim Chief Financial Officer.

·         Mr. Bailey’s employment with HXPN commenced on May 10, 2021. He was a consultant to the Company for several months prior to his employment.

·         Bailey has more than 12 years of senior management experience, most recently as President and Chief Executive Officer of Sapphire Exploration LLC, a private oil and gas exploration company that he founded in 2016.

“Steve is the right leader for HXPN,” said Perry Cook, HXPN Board member. “Steve’s extensive mineral resources and financial background will help HXPN in the development of strategic alliances and partnerships that are critical to the Company’s expanded focus. We believe his strong leadership experience will help grow the Company’s revenue and quickly achieve profitability.”

Trader Notes

NOt much to say here. HXPN before today averages 2 trades a day and has a 30 day average daily volume of 6600 shares. Todays spike in price and volume will catch the attention of traders for sure. The stock has already given up most of its early gains. If it gets back to the .03 .04 area it might be interesting.

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