It took a couple weeks to get their WSJ ads to kick in, but Chimera Energy Corporation (CHMR) is reaping rewards this week after dropping from their high. Losing 87% in share value from August 9th to 20th, 8 trading sessions, CHMR stock has rebounded from their 0.26 to more than double off their hypothesis on a non-hydraulic shale oil extraction methodology. Even if the shares had plunged 99%, the penny stock would still be more than profitable for one inisder.
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CHMR Stock Chart
Last: 0.67, up 0.1299 (24.05%)
Volume: 883,349
Dollar Volume: $577,551
High: 0.74
Low: 0.58
Trades: 371
Average Trade Size: 2,380
There is no disputing that fracking has caused the new debate in our diners and late night talk shows. Self sustainability comes at a cost. So does investing in a start-up with an extremely short history and a limited ability to “change the world.”
Chimera may have put its ideas to paper in respect to waterless fracking which, to say the least, is a very interesting technology, and will no doubt continue to be pursued. The fracking revolution that is currently underway is likely to extend for decades, and run concurrently with increased scarcity of clean water in the U.S. and the world. Is Chimera’s hypothesis the true answer?
Any methods theorized or developed that reduce water use and reduce the risk of contamination of groundwater supplies is going to be a great success. For the time being, at least since Monday, CHMR stock has ridden that success.
About CHMR Stock
Chimera Energy Corp is in the process of reengineering this new method of Shale Oil extraction for mass production, relicensing and sales. According to their S-1, Chimera Energy Corp. needed to raise $500,000 (including the $75,000 of capital which will be raised from its IPO offering, assuming it is fully subscribed) to fully implement their business plan over the next 24 months. The funds raised in the IPO offering, even assuming they sell all the shares offered, will serve as intermediate financing to fund operations and growth until they can raise additional funds.
Bottom Line: This week has proven to be profitable for penny stock traders of CHMR that were able to avoid the WSJ ads, buying at above $1, and have played it since Monday. Can it sustain this positive momentum? Charles Grob surely hopes so.
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