The share price of Independence Energy Corp. (OTC: IDNG) penny stock is about to become a whole lot cheaper. The oil stock has been on an unstoppable climb upwards since coming on to OTC so the Company cleverly decided to announce a 5 to 1 forward stock split in the form of a stock dividend. IDNG stock price was $2.10 when we issued our alert on the oil speculators. As a result of the forward stock split, IDNG shareholders will receive 4 additional shares of the penny stock for every 1 share held on a yet to be named record date.
IDNG has gained 64.76% since our initial alert.
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IDNG Stock Chart
Just last week, Independence Energy acquired a working interest in an additional two wells drilled in Coleman County, Texas. The two wells, the Taylor-MEI #113 and the Taylor-MEI #115 (the “Wells”), are located roughly 2 miles NE of the Shields-MEI #105H horizontal well currently being drilled and in which the oil speculators also have an interest.
About IDNG Stock
Independence Energy Corp. is an oil and gas exploration and development company focused on projects in the U. S. The Company is seeking to further advance its existing projects through development or offset drilling and to expand its portfolio to include additional property interests in the U. S. To review the SEC filings for the Company, click here.
Bottom Line: IDNG has been one of the top performing penny stocks over the last month and this proposed stock split will reduce the share price accordingly allowing for a slew of new trading. The one thing IDNG stock has not been is volatile which is about to change and big percentage swings are in the near future for the penny shares.
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