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It is often seen that investors show a keen interest in stocks that record strong trading volumes and by that token, it could well be a good time for investors to consider taking a look at the Clifton Mining Company (OTCMKTS:CFTN) stock.
Market Action
On Tuesday, CFTN stock was down 8.33% to $0.11 with 23K shares, compared to its average volume of 5K shares. The stock moved within a range of $0.1100 – 0.1200 after opening trade at $0.12.
The trading volume in the Clifton Mining stock on Tuesday had been quite strong and on top of that, the stock had also managed to hit its highest level in 52 weeks of $0.25 a share. Considering the fact that there has been no news about the company in recent times it could be a good time for investors to perhaps take a closer look at some of the basics about the company and the stock.
It was not until January of last year that the stock had actually been discovered by the investing public in any meaningful way. It falls in the category of micro penny stocks and at this point in time, there is significant interest in such stocks among a large number of investors.
However, it is perhaps more important to point out that back in January 2021 the company had also announced that it was looking to buy back as much as $800,000 worth of its common stock. That had also been an announcement that may have led to a degree of positivity about the stock among investors.
The company is involved in gold and silver mining that has its operations in Utah primarily. The Clifton Mining stock trades on the OTC Markets under the ticker symbol CFTN. The company, which had been established back in 1993, boasts of properties with both lode claims and patented claims. In addition to that, the company also has interests in a joint venture in a property spanning 33 square miles on the Nevada-Utah border.
Traders Note
CFTN stock is trading below the 50-Day and 200-Day Moving averages of $0.12 and $0.12 respectively. However, the stock is trading above the 20-Day moving average of $0.15.
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