AGR Tools Keeps Falling After Acquiring 2026 Acre Oil and Gas Lease (AGRT)

AGR Tools (OTC: AGRT) dropped in today’s over-the-counter market trading, falling a dismal 15.97% to a share price of $0.200. AGR Tools’ recent decline has put its previous rally on standby. Trading volume also fell significantly below the daily average.

On Wednesday, June 20th, shares of AGR Tools tanked 41.67% to a share price of $0.210. With its recent decline, AGR Tools has a total share price loss of 60% for the year.

On June 15th, AGR Tools opened the trading session at $0.12 and closed at $0.13, which has been the stock’s lowest performance of all time. AGR Tools had a short bounce-back period until Thursday’s steep drop and today’s continued decline reversed the stock’s direction.

AGR Tools’ recent drop started right after the headline on June 19th when AGR Tools’ wholly owned subsidiary AGR Energy Holding announced that it had signed a memorandum of understanding to acquire a 2026 acre oil and gas lease in Corsicana, Texas from BNMW Resources.

Here are some other recent headlines for AGR Tools:

  • On June 20th, BUYINS.NET updated coverage on AGR Tools after releasing the latest short sale data through June 18, 2012. The total aggregate number of shares shorted since May 17, 2012 is approximately 24.13 million shares. Approximately 39.13% of daily trading volume is short selling. The SqueezeTrigger price for shares shorted since May 17th is $0.41. A short squeeze is expected when AGRT closes above its $0.41 SqueezeTrigger Price.
  • On June 19th, AGR Tools announced that it retained Goal Capital, a consulting and Investor relations company based out of Orange County, California. Goal Capital specializes in the natural resource sector, and has worked with various companies listed on the NYSE-AMEX and TSX.
  • June 18th, AGR Tools began due diligence on the Paul Lease and announced a conference call.

AGR Tools, formerly Laburnum Ventures, incorporated on March 11, 2004, is engaged in the business of manufacturing and selling tools and accessories to the construction, building, maintenance and demolition industries in the United States and Canada.

The company was an exploration-stage company with 100% undivided interest in a mineral property located in the Province of British Columbia, Canada known as the Sum Mineral Claim. As of June 30, 2010, the Company sold more than 700 products through its dealer network, which consisted of 28 dealers in 22 states and three dealers in two Canadian provinces.

On May 27, 2010, the company completed a reverse merger with AGR Stone & Tools USA, whereby the company acquired all of the issued and outstanding shares of AGR USA. In May 2012, the company incorporated AGR Energy Holdings.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.