Camber Energy (CEI) shares fall and get back on track today
Camber Energy Inc. (CEI) gained more than 30% after the company said it had no plans to do a reverse stock split. CEI stock fell sharply 40% yesterday, and today in pre-market, it is recovering and is trading at $ 1.22. For its latest filing with the SEC, the company noted that the number of its shares had increased significantly since February.
In a regulatory filing, the company said it could only issue 500,000 shares before reaching its limit. He also said that a reverse stock split would limit his ability to issue additional shares at the same price. Camber shares have been on a roller coaster ride over the past two months, with some investors suggesting that a massive spike in interest from WallStreetBets traders was a fake. Camber stocks have fallen over 38% in the past four sessions, erasing all of their value. The stock rebounded in after-hours trading on Wednesday.
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