Crown Point Energy Inc. (CVE:CWV), an energy penny stock, moved up after announcing that it is evaluating opportunities to grow its business in Argentina
An evaluation was potentially good news for shareholders of an energy penny stock Monday. Here’s some small stocks making big moves on Monday, September 26, 2016 (as of 4 pm EST):
Energy penny stock Crown Point Energy Inc. (CVE:CWV) rose 30% to $0.065 on Monday after announcing that it is reviewing alternatives to further reduce its general and administrative and other expenses and is evaluating opportunities to grow the Company’s business in Argentina through strategic acquisitions or otherwise.
As well, shares of Spectra7 Microsystems Inc. (TSE:SEV) slid 20% to $0.37 as the provider of semiconductors for virtual reality and wearable computing said it expects to record revenues for the three months ended September 30, 2016 of between $1.0 million and $1.3 million, saying the shortfall is the result of slower production ramp-ups of current customers resulting in lower demand for Spectra7 products.
RNC Minerals (TSE:RNX), meanwhile, reported that Eric Sprott beneficially now owns, through his holding company, approximately 10% of the issued and outstanding shares of RNC. RNC Minerals stock moved up 4% to $0.41 following the announcement.
Finally, Manitok Energy Inc. (CVE:MEI) shares jumped 13% to $0.13 after the oil and gas explorer/developer announced that its production averaged approximately 4,825 boe/d from September 1, 2016 to September 19, 2016, a 35% increase from the average daily production reported in the second quarter of 2016.
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Energy penny stock Crown Point Energy Inc. (CVE:CWV) rose 30% to $0.065 on Monday after announcing that it is reviewing alternatives to further reduce its general and administrative and other expenses and is evaluating opportunities to grow the Company’s business in Argentina through strategic acquisitions or otherwise.
