The stock of Index Oil & Gas, Inc. (PINK:IXOG
, IXOG message board
) has been going crazy for the last few market sessions.
Because, as you might have known, IXOG has embarked on a fairly aggressive run showing no signs of slowing down.
Yesterday, IXOG edged up $0.0041, or 34.17%, to $0.0161 - its fifth rise over the last seven sessions and highest close since October 2010. What is more, more than 1.95 million shares of common IXOG stock changed hands within the latest session, which is nothing short of a new 36-month record for the company.
Strangely or not, there seems to be no news to justify the spectacular chart run IXOG has been making for one week already. In addition, current financial records are nowhere to be found, either. If this were not enough, IXOG's corporate website is also down, for all that's worth.
The lack of news shows that the company has made no real progress since it filed a voluntary petition for liquidation under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas. In this respect, IXOG's current market surge seems rather unlikely to continue for much longer.