It has been a pretty tough period for investors in Graycliff Exploration Limited (OTCMKTS:GRYCF) over the course of the past week as the company’s stock slid by as much as 13% during the period. In this sort of a situation with any stock, it is imperative for investors to figure out if the slide is going to continue or if a recovery is one the way.
Market Reaction
On Thursday, GRYCF stock ended flat at $0.1681 with 2 shares, compared to its average volume of 6.81K shares. The stock has moved within a range of $0.1681 – 0.1681 after opening trade at $0.1681.
Closes Second and Final Tranche of its Previously Announced Private Placement
In this context, it could be a good idea to take a look into the announcement made by Graycliff Exploration yesterday. The company announced that it had been successful in completing the second and last tranche of the private placement. The placement was of a non-brokered nature.
It should be noted that the second tranche of the offering was made up of a total of 112499 units in Graycliff Exploration and the company offered the units for $030 each. The company managed to generate gross proceeds to the tune of as much as $349498.80. Last but certainly not the least, investors also need to keep in mind that each unit was made up of one common share in Graycliff Exploration and a solitary share purchase warrant.
Traders Review
GRYCF stock is trading below the 20-Day and 50-Day Moving averages of $0.20 and $0.24 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.45. The stock is down 49% over the past 3-month.
