Shares of the United States Antimony Corporation (UAMY), the seller of antimony, silver, gold, and zeolite, are facing a decline in pre-market trading. The -0.4% drop at the time of closing is observed in yesterday’s market and still stock is going through a difficult time as the per-share price drops to $1.46 with a -12.95% loss on the last check. Let’s see what made the stock facing bearish sentiment.
There is no company-specific news, no press release, no analyst downgrade which could explain the decline. Due to this situation, investors are feeling difficulty in making a decision for the prospect. Sometimes companies get entangle in sell-off due to the high volume selling of securities in a short time period. This situation results in more offering than demand causing pessimistic behavior in the market.
About a week ago, the company has received a warning letter from NYSE American which claimed that the UAMY has violated sections 301 and 713 of the NYSE American Company Guide in the sale of its aggregate 26,290,000 shares of common stock.
Considering the bearish sentiment, things are not working well for the UAMY but some investors having an eye on long-term prospects take it as an opportunity to buy shares at a low price but for the short-term investors, it becomes difficult to take the decision that favors the company.