A California-based energy company appears to be getting some attention from the bulls for the second day in the row as shares are bid up in a major way premarket. While no news has come out about the small cap over the last few days, shares of Petroteq Energy Inc. (OTCPK:PQEFF) is seeing some massive buying pressure recently.
Petroteq Energy is a fully integrated oil and gas company focused on the development and implementation of new proprietary technology for oil extraction. The company operated in two reportable segments being Oil Extraction and Processing Operations and Mining Operations. It generates revenue from the sale of hydrocarbon.
Traders can’t seem to get enough of the recent action as shares are bid up at $0.2799/share (+27.23% implied open for sellers) as we head into Wednesday’s open. This move would be a strong continuations of the success this small cap had on Tuesday as shares closed up at $0.22/share (+57.14%) on the day.
