posted
I know this isn't a penny stock but this is a weird sell off. Huge price decrease on fairly low volume. Appears to have found bottom. No News. Previous news doesn't look bad or out of the ordinary. Has been increasing without a down down for months. Worth a look.
posted
here is a mistake they corrected a week ago: Correction -- Lexington Resources, Inc. Tuesday June 22, 12:47 pm ET
In the news release, Lexington Resources (OTC Bulletin Board: LXRS - News) Reports New CBM Gas Well Production, Land Acquisition, and Further Drilling Plans, issued earlier today by Lexington Resources, Inc. over PR Newswire, we are advised by the company that the first paragraph, first sentence, should read "... the Company's Kyndal #2-2 Coal Bed Methane ("CBM") gas well reports initial flow rates of 500 thousand cubic feet per day ..." rather than "500 Million Cubic Feet ("MCF")" as originally issued inadvertently
They were only inflating the flow by 1000 times! I'll say that was a mistake! People are reacting to it maybe?
posted
I can't believe people would wait this long to react. That kind of mistake should have caused a major reaction around June 22. It is not out of the realm of possiblilty though, It could also be major profit taking because the price it dropped from was the 100% profit mark form it's beginning trend 3 months ago.
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