THE LAST time $:BSC of Basic Energy Corp. made a big move up was on August 3 to 4, from a low of 0.4437 to a new high of 0.5692.
From then on, it was a swing up, slide down ride in the stock market, and investors have been waiting when the Basic Energy Corporation stock would spike again.
Then came the surprise of Oct. 8 and an even greater surprise on Oct. 18-19, and off $:BSC to the next higher level.
Investors obviously like the recent developments in this company, the reason why buyers of its stock are now in control.
Traders and investors are bullish on $:BSC because the company is in talks with Filoil Energy Company Inc. to explore new possibilities in the downstream oil business.
Some of them also like Kim Henares, and they say so in Investagrams.
With Kim there, Basic Energy will most likely be tax-conscious and will never commit the violations made by $:BHI (failure to submit annual financial reports) or the anomalous $:AR (selling shares that are not recognized in its books).
It is plain to see that the market encourages this move.
In a company disclosure to the PSE this morning (Oct. 20), Basic Energy Corp. explained that "aligned with its corporate purposes, (the company) has had in its vision for some time to become a total energy company, which progressed with the recent subscription of MAP 2000 Development Corp. (M2DC)."
"The decision to eventually invest in Filoil Energy Company Inc., a downstream oil participant, will culminate the Company's objective to become a complete energy enterprise with end-to-end activities from the upstream oil business, renewable energies or alternative power sources, and downstream gas and oil business and allied logistics services," the BSC said.
Buyers of the stock are in control at the moment, which also means they have confidence in BSC management with the likes of Chairman Kim S. Jacinto-Henares, and directors Reynaldo Gamboa, Andres B. Reyes Jr. and Jaime Martirez.
$:BSC opened today at 0.75 and was up by 0.02 for a 4.11 percent increase.