The markets remain relatively flat, overall as elections for the US presidential race grow closer. Uncertainty surrounding things like economic reform and even healthcare costs take their toll on would-be bullish moves. In spite of this, there has been bigger opportunity demonstrated in the smaller cap space with many stocks seeing record days in the market. Included in these are companies like Basic Energy Services, Inc (NYSE:BAS) and Exolifestyle Inc (OTCMKTS:EXOL).
Pre market this morning Basic Energy Services, Inc (NYSE:BAS) announced that they had filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the District of Delaware to pursue a prepackaged plan of reorganization in accordance with its previously announced restructuring support agreement with creditors to effectuate a comprehensive balance sheet restructuring. The stock has jumped significantly and on much higher than average volume. Shares of BAS have moved up from an opening price of $0.34 to highs of $0.56 and the stock continued to trend back toward the high of day heading into the afternoon session.
BAS Just Made a 67% Move In Less Than 4 Hours. CLICK HERE FOR MORE ALERTS LIKE THIS
Exolifestyle Inc (OTCMKTS:EXOL) also made an announcement this morning. Following several days of active market sessions, today the company announced a corporate update to shareholders. In it the company CEO states, “It is important to mention that while we will remain focused on our innovative and healthy brand restaurants and hospitality ventures, we have a very specific and targeted commitment to EXO:EXO, Inc. and believe this brand is the future of our business. This allegiance has led the company to a series of transitional moves, including changing our corporate name and public ticker symbol from PF Hospitality Group (PFHS) to EXOlifestyle, Inc. (EXOL). This name change is noteworthy, as it conveys our refocused direction as a company. We feel this re-branding will provide a direct benefit to not only our current shareholders, but future and prospective shareholders as well. The rebranding also includes an updated website to communicate with the public and our shareholders. The new parent company website iswww.ExoLifestyle.co.”
Since last Monday the stock has seen a rise of more than 100% after moving from levels of $0.075 to as high as $0.161 on Tuesday.