The hot penny stock run of AGR Tools Inc., aka AGR Energy Holdings Inc. (OTC: AGRT), lasted about as long as a fart in an elevator as the stock price is back to 0.16 after Friday. Yes, AGRT stock price gained 2 cents in the last trading session, 14.29%, but where was the big “we did TBX steam coming out of the nostrils bull run? AGRT was more like a TBX rodeo that instead of 8 seconds, lasted just 8 days when the stock price topped out at 0.69. So, the question now lingers if whether Friday’s 1,674,722 shares traded, breaking the pattern of 5 consecutive losing sessions, is the beginning of Hot Shots Part Deux?
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AGRT Stock Chart
Market Cap: 10.43M
Shares Outstanding: 65.18M
Consider this: The biggest bang AGR Energy has been able to light up thus far was their LOI with Consolidated Oil And Gas Corp. for an 80% interest in Paul Lease for 5 million restricted shares. Does it really matter at this point to traders is the Paul Lease has 700 acres in Overton County, Tennessee with 20 bores that were drilled. No, but for long speculators who like these oil & gas stocks, the statement that Vern Wilson, CEO of AGR Energy, will be spearheading the Company’s plan to drill and complete up to 10 additional new wells on the land may be the spark from Friday.
About AGR Energy Holdings Inc.
AGR Energy Holding’s mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world’s health and welfare. AGR Energy Holding’s strategic goal is to expand our reserve base and increase our cash flow through investment in and management of exploration, acquisition and exploitation of new and existing oil and gas assets.
Bottom Line: The penny stock of AGR Tools (AGRT) has been a “tool” stock to say the least. Sure was exactly like the TBX name says, instead of the bull, AGRT gave rocky mountain oysters. An 8 day run on a small public float should have had much more long term potential than it did which makes many wonder if the dip in price is just a “fake out” or if the deal really is dead. Keep AGRT on the list of penny stocks to watch even though it hit 11 cents Friday which is lower than where it began on May 28th.
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