Extreme Biodiesel Soars 80%: Buy Why?
Over the course of the past couple of months or so, the stock market has returned to a semblance of normalcy after the setback suffered due to the coronavirus pandemic, and many stocks are soaring again.
One of the stocks to have made significant gains recently is that of Extreme Biodiesel Inc (OTCMKTS: XTRM) and it could be worthwhile for investors to take a closer look at the company as well as the developments surrounding it. The extreme stock has rallied by as much as 80% recently and it seems that the bulls have finally managed wrest control.
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Major Triggers
In addition to the continued rise in the stock, it is worthwhile to note that the Extreme Biodiesel stock has also demonstrated significant trading volumes in recent days. Plenty of new investors are moving to the stock and the continued accumulation has led to this particular rally. That being said, it is not hard to see why the stock is rallying.
Back in February this year, the company completed the acquisition of the Boise, Idaho based construction company North Star Homes. While that was a positive trigger, it is necessary to add that Extreme Biodiesel has also stated that it believes that its performances in the 3rd and 4th fiscal quarters are going to be strong despite the havoc played by the coronavirus pandemic.
The Chief Executive Officer of the company Vinnie Angelos said that Extreme Biodiesel is on track to sell 50 homes in 2021 once the upcoming projects are completed. He went on to say that the future is looking brighter and the company is now on track to build ‘new, exciting and innovative houses’. Extreme Biodiesel had started off as a recycling and fuel company.
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Acquisition Of North Start Homes
However, since the acquisition of North Start Hoes, it has gone into a different trajectory altogether and become a real estate company as well. It is a significant development for the company and the move has clearly been welcomed by the shareholders as well. By virtue of this acquisition, Extreme Biodiesel will now be building homes and communities in the Boise, Idaho region.
In addition to that, it is also important to note that North Start Homes is a long-standing company and has in fact been in the business for more than two decades. It has built homes and communities of impeccable quality in the Treasure Valley during those two decades. On the other hand, the company also provided a corporate update back on July 20 and indicated its thoughts about the acquisition of North Star Homes. Extreme Biodiesel stated that it brings a new opportunity for the company and also for its shareholders. It remains to be seen if the stock can add to its gains today.
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