Home Financial Markets Penny Stocks What Does The Recent Fall In MMEX Resources (MMEX) Shares Mean?

What Does The Recent Fall In MMEX Resources (MMEX) Shares Mean?

Shares of development-stage energy company MMEX Resources Corporation (OTCPK: MMEX) closed at $0.0092 down -28.68% on Tuesday and remained trading in a range of $0.0091 to $0.0133 on the day.

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Yet, MMEX stock surged over 4500.00% in the last month; with the average trading volume for the month exceeding 462.56M shares. During the last three months, MMEX stock has gained over 9200.00% while its average daily volume was 271.80M. The stock price has also grown by over 9200.00% in the last 12 months with a high of $0.0249 and a market cap of $138.45M.

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Knowing about the company:

  • MMEX Resources Corp is a company engaged in the exploration and development of mineral resources.
  • Most of its energy projects in Texas, Peru, and other Latin American countries involve exploration and extraction of oil and gas, refining and distribution, and electric power production.
  • MMEX intends to build crude oil refining facilities in West Texas’ Permian Basin.
  • It will also focus on the operation of 10,000 barrels per day (bpd) distillation unit that produces non-transportation grade diesel for drilling frac fluids, in addition to residual fuel oil and naphtha which will be sold to other refiners.

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Recent developments:

Earlier this month, MMEX announced its plans to take advantage of solar energy to power multiple planned projects in Texas, which aim to produce hydrogen and ultra-low sulfur fuel with carbon dioxide capture.

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