World Oil Group (WOGI) Stock Continues to See Uptrend: Where Will it Stop?

Over the course of the past week or so, the World Oil Group Inc (OTCMKTS:WOGI) stock has been in the middle of a sustained rally and it continued on Wednesday.

Yesterday, the World Oil stock went up by 20% to takes its gains over the course of the past week to as much as 35%. In light of such gains, it might be a good idea for investors to take a closer look at the company. However, it should be noted that there has been no recent news about the company that might have led to such a strong rally.

The last major development for the company was in May when World Oil announced that Susan Ferrari had been appointed to its board of directors.

Ferrari is a seasoned executive and has experience spanning more than two decades across diverse industries. She has worked in the financial services industry, media and technology sectors. One of the more prestigious positions held by Ferrari was that of the Vice President of the Bank of NY Mellon and ADP. While it is unlikely that the appointment that was announced in May 26, 2021 had a bearing on the latest rally, it is a piece of information that investors ought to know about.

Market Reaction:

On Wednesday, WOGI stock jumped by 21% to $0.468 with more than 6.29 million shares, compared to  its average volume of 8.03 million shares. The stock has moved within a range of $0.0360 – 0.0530 after opening the trade at $0.0387. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0850.

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