AmmPower Corp (OTCMKTS: AMMPF) jumped 12.22% and exited the market for $1.67 in Monday’s trading session. The stock opened at $1.60 yesterday at 9.30 am and remained in the day range of $1.51 – $1.80. Its yearly range is $0.71 – $1.90, while the market capitalization is 137.80M CAD. The average share trading volume of this stock remains 764.15K. AMMPF’s previous close had been $1.49. In the last six months, this stock has jumped 128.77%. If we look at it from the previous month, there has been a 70.41% surge in the stock. Throughout time, it has remained in the green zone. So what’s the driving force behind this stock?
Business reorganization into two divisions
In the first week of this month, the company announced that it is organizing its business into two different corporate divisions: AmmPower Ammonia & Alternative Energy and AmmPower Lithium & Mineral Resources. The reorganizing is an attempt to focus on asset portfolio to enhance the depths of the business.
AmmPower Marine Corp. subsidiary formation
The following important piece of information from this company is the formation of a new subsidiary, AmmPower Marine Corp. This subsidiary is formed under the division AmmPower Ammonia & Alternative Energy. The purpose of this subsidiary is to bring green ammonia technologies and manufacturing units into the maritime industry.
Appointment of former International Maritime Organization representative to the advisory board
Mr. Pierre Marin is appointed to the company’s advisory board on June 7. With experience in environmental policies, among others, his addition is adding weight to the fabric of this company.
All positive news stories make investors hopeful of the company’s times ahead, thus pushing stock in the upward direction. There has been a positive response to the stock movement regarding all these recently released announcements and reports.
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