After having seen the AmmPower Corp (OTCMKTS:AMMPF) stock continuing to decline over the past few weeks, investors must be hoping for a recovery in the stock this week. Last week the stock was under considerable selling pressure and ended the week with declines of 30%.
It should be noted that over the course of the past month, the AmmPower stock has actually gone down by as much as 59%. There has been no recent news about the company and the last significant news related to AmmPower emerged on June 21 when the company announced that it signed a definitive agreement in relation to the acquisition of Hydrogen One Technologies Inc.
As per the terms of the definitive agreement signed by AmmPower, it is going to take over the entirety of the outstanding share capital in Hydrogen One.
The transaction is going to be completed through 700n000 shares of the AmmPower common stock. It could well be a significant acquisition for AmmPower considering the fact that Hydrogen One is involved in the development of technologies by way of which it seeks to make green hydrogen from green ammonia. Despite the losses recorded in the stock, it could still be a stock worth tracking.
Market Reaction:
On Friday, AMMPF stock decreased 8.64% at $0.5948 with more than 904k shares, compared to its average volume of 896k shares. The stock had moved within a range of $ 0.5781 – 0.6838 after opening the trade at $0.6820. Over the past 52-week, the stock has been trading within a range of $0.5500 – 1.9000.
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