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Reconnaissance Energy Africa shares surged 37.5% on volume over 1,800% above average, with no clear reason given.
Reconnaissance Energy Africa (CVE:RECO) shares jumped 37.5% on Wednesday, closing at C$0.66 after reaching a high of C$0.76, driven by a surge in trading volume to about 7.9 million shares—over 1,800% above average.
The junior oil and gas explorer, focused on Namibia and Botswana, holds a 90% interest in a major Namibian exploration license and a 100% working interest in a Botswana license.
The stock’s market capitalization stood at C$222.78 million, with a price-to-earnings ratio of 2.13 and a beta of -0.19, indicating low volatility.
The rally occurred despite no specific catalyst being detailed in the report.
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Las acciones de Reconnaissance Energy Africa aumentaron un 37,5% en volumen, más de 1,800% por encima de la media, sin una razón clara.