In sliding 10.53%, Source Exploration Corp. (CDX:SOP:CA) was one of the worst performing stocks amongst TSX Venture Exchange-listed basic materials companies on January 13. After closing the previous session at $0.19, shares of SOP:CA opened this morning at $0.17 and closed the day at $0.17. Throughout the day, about 25,000 shares changed hands, compared to an average 30-day volume of 15,161 for Source Exploration Corp.. Shares moved as high as $0.19 and as low as $0.17 in today’s trading action.
The share depreciation gives the company a market capitalization of $2.65 million based upon 13.96 million shares outstanding.
In the past 52 weeks, shares of Source Exploration Corp. have traded as low as $0.1 and as high as $0.5. Technical traders will take note that at $0.17, shares of SOP:CA are trading below their 50-day moving average (MA) at $0.177 and below their 200-day MA at below $0.249. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $Source Expl?
Source Exploration Corp is a mineral exploration company. It is engaged in the acquisition, exploration, and evaluation of mineral properties. The company is led by its CEO Brian E. Robertson from its headquarters at 1100 Russell Street.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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