Home Stock Market Commentary Shares of Amazing Energy Oil & Gas Co. (OTCMKTS: AMAZ) Are Soaring...

Shares of Amazing Energy Oil & Gas Co. (OTCMKTS: AMAZ) Are Soaring Today – Mike Swanson (06/02/2020)

Today shares of Amazing Energy Oil & Gas Co. (OTCMKTS: AMAZ) are soaring today. They are up over 102% so far this morning on over 65 million shares of trading volume. The stock only has a trading float of 17 million shares so this represents a massive turnover in stock for the company. Take a look at the chart.

The stock only has a market cap of $7.125 million dollars. The company only generated $595,000 in revenue last year and had a negative operating revenue of over $7 million. The stock though has become a huge trading play for penny stock traders on Twitter this week as you can see from these recent tweets.

It’s nice to see stocks like this go up, but I don’t know if there is anything coming that will justify the move and I am not seeing anything to suggest there is. In tweets today there is talk of “promoters,” but not much else.

I personally prefer small cap stocks of companies that generate larger streams of revenue and can turn a profit. Situations like that are now happening in the gold market. My top stock pick for this month is doing well and I gave an update on it in a trading update video this morning you can watch here.