Breakout Coming? AmmPower Corp (OTCMKTS:AMMPF) Jumps After The News

AmmPower Corp (OTCMKTS:AMMPF) continues its upwards journey on Thursday. The stock has been nice uptrend over the past month with a jump of 37%.

Major Trigger:

AmmPower Corp. Announces Global Marine Initiative & Addition of John Tercek a Maritime Infrastructure Veteran to its Board of Advisors

Key Highlights:

  • announced that it is in the process of forming a wholly-owned subsidiary known as AmmPower Marine Corp. (“AMC”), to operate under the previously announced AmmPower Ammonia & Alternative Energy Division, in addition to welcoming John Tercek to its Advisory Board.
  • AmmPower’s global marine initiative will focus on bringing its green ammonia manufacturing units & technologies to the maritime industry, and will operate under the direction of Rene Bharti, President, & CEO, Gary Benninger, to further develop its maritime relationships.
  • The Company plans on using its impending small- and large-scale pilot plant projects to demonstrate proof of concept & validify its proprietary technology. AMC will target the shipping industry, and specifically focus on port facilities, infrastructure, cargo ships, cruise liners, bunkering processes’ and distribution hubs.
  • John Tercek is an attorney and financier with 40 years of international project development and finance experience. He started his career with a Wall Street firm and then partnered with a boutique finance firm that raised $1 billion for project development in the United States.

Market Reactions  

As of 12.31, AMMPF stock decreased by 5.45% at $1.35. Total volume so far stood at 1.58 million shares, – 6X its average volume of 159K shares.  The stock moved within a range of $1.2961 – 1.3800 after opening at $1.3070.

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