ABCO Energy Inc (OTCMKTS:ABCE) Stocks Tanks After The News

There was no news about ABCO Energy Inc (OTCMKTS:ABCE) on Wednesday but the company’s stock suffered from a pretty heavy selloff nonetheless and tanked by as much as 19%.

Market Action:

On Wednesday, ABCE stock decreased 12.56% at $0.0195 with more than 711.30K shares, compared to its average volume of 398.11K shares. The stock has moved within a range of $0.0195 – 0.0223 after opening the trade at $0.0220.

Major News

Despite there being no news it might be a good idea for investors to perhaps take a look at a development from last week on October 19. The company announced at the time that it had filed a 10Q report to the United States Securities and Exchange Commission for the midyear. ABCO Energy also notified that the report had also been uploaded to the website of the Over The Counter Markets.

In the report, the company noted that that in the first six months of the year that ended on June 30, 2021 the total sales generate by the company soared to $768,399. In the same period in 2020, the company had generated sales of $522,031 and that works out to a rise of as much as 47% year on year.

On the other hand, the cost of sales did not rise considerable year on year. This year, the cost of sales came in at $455,439 and in the prior year period, the cost of sales had stood at $434,320.

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