Ascent Resources knows no reason for recent stock surge
Shares in AIM-listed Ascent Resources surged by a half on Tuesday and have now more than doubled over the past two days, though the oil and gas group said it didn't know why.
Ascent Resources
2.35p
10:09 19/04/24
1.29%
0.03p
FTSE AIM All-Share
741.00
10:25 19/04/24
n/a
n/a
Oil & Gas Producers
9,378.72
10:25 19/04/24
-0.57%
-53.56
The stock was up 50.86% at 0.264p by 15:51, having touched a high of 0.45p earlier on. Shares jumped from 0.12p to 0.18p on Monday.
Ascent said: "The company notes the recent significant increase in the company's share price. The company is not aware of any reason that would lead to such a movement."
Shares are now back at levels not seen since early February but are still trading 53% lower than where they stood last year.