Share prices for Imperial Petroleum Inc (NASDAQ: IMPP) continue the extraordinary bullish momentum reported later last week. In just over two weeks, the stock has ballooned by upwards of 5.8 times its initial price. Currently standing at 3.98 in the after-hours of trade, the stock continues to impress the market, showing a growth spurt that is beyond ordinary circumstances. With US crude oil momentarily topping $130 a barrel, uncertainty regarding oil futures continued influencing trade in the stock market.
Oil Prices Reach Historic Highs
Previously, during the financial crunch of July 2008, global markets witnessed a similar peak in oil prices. Oil prices returning to these heights are alarming for the global economy, threatening to exacerbate inflationary pressures. Given recent developments, it is evident that as geopolitical tensions continue to broil, IMPP stockholders are the real winners.
Given the magnitude of chatter surrounding it, market onlookers described IMPP as a meme stock earlier last year. This frenzy, however, is linked to more systematic economical shifts influenced by global geopolitics and oil supply. Investors are rushing to get their hands on oil futures, in the wake of the oil crisis reaching peaks not seen in over 14 years.
IMPP well-positioned for Opportunity Capture
The IMPP stock, in particular, has seen a substantial premium above competitors, and other players in the energy sectors. The ensuing crisis significantly enhances the potential of opportunity capture for Imperial Petroleum, which operates a cargo fleet for petroleum products. Furthermore, its plans for fleet expansion position the company for substantial growth. This growth is clearly substantiated, given the demand for heightened fuel, along with that of its shipment across the globe. This anticipation in demand and potentially increasing capacity is what enhances overall financial feasibility for the IMPP stock. The sheer trade volume of the stock, alongside its shooting share price, indicates the market’s quick response to these collective shifts. Traders continue to watch the IMPP stock closely if its price maintains within the bracket of $3.00 – $3.50. In doing so, positive growth momentum will likely persist.
Conclusion
Throughout the day, IMPP stock has seen remarkable growth, given a historic rise in crude oil prices. This momentum continued well into the after-hours of trade, indicating the frenzy surrounding it. Investors are betting on the shipping company in the wake of its increased capacity, and the sheer demand anticipated shortly.
