Investors are nowadays increasingly interested in clean energy stocks due to the strong policy push towards such sources of energy and one of the stocks from that space that could be worth tracking at this point is that of Foothills Exploration Inc (OTCMKTS:FTXP).
The stock has been in the middle of a strong rally over the course of the past days and it continued on Monday as it soared by 18% to take the gains over the past week to as much as 75%. The main trigger behind the rally came about on June 24, when the company announced that it managed to eliminate convertible debt to the tune of as much as $1.6 million.
Back on June 24, the company announced that it inked settlement agreements with all but one of the holders of variable rate convertible notes of the company. It is a major development for the company and it seems that the market has realised that as well. However, that is not all. At the time, Foothills also announced that throughout the course of the rest of 2021, it is going to focus on settlement as well as elimination of it variable rate convertible debt. This is a move that is aimed at strengthening its balance sheet and improve the company’s position.
Market Reaction:
On Monday, FTXP stock jumped 18.20% to $0026 with more than 456.69 million shares, compared to its average volume of 207.65 million shares. The stock has moved within a range of $0.0019 – 0.0028 after opening the trade at $0.0021 Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0155.
 Stock Surges 75% in a Week: Here is Why){kind=link}