What's Going On With Odyssey Marine Exploration Stock?
Portfolio Pulse from Erica Kollmann
Odyssey Marine Exploration (NASDAQ:OMEX) shares experienced volatility after announcing a $37.1 million award from Mexico under NAFTA arbitration. The stock initially fell 90% but is recovering with heavy trading volume.
September 18, 2024 | 3:02 pm
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Odyssey Marine Exploration's stock fell 90% after announcing a $37.1 million award from Mexico under NAFTA arbitration, but is now recovering with heavy trading volume.
The announcement of the $37.1 million award initially caused a sharp decline in OMEX stock, likely due to concerns about the use of proceeds for litigation financing. However, the stock is recovering, indicating investor optimism or speculative trading. The heavy trading volume and multiple halts suggest significant market interest and potential for short-term price increases.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100