An investor who manages about $8 million in securities says he plans to acquire between $350,000 and $500,0000 worth of ERHC Energy shares when the price drops to $0.60, he told ERHC On The Move yesterday.
The caller, who said he is based in Houston, may have begun to buy already, however, as there was a 50,000-share purchase right after the bell yesterday, shortly after we finished talking.
We suggested that the investor average down, as breaking news could propel the stock higher in the near term.
Interested in our outlook on the stock? Drop us a note at email@example.com. Remember, such advice is purely speculative, and I am not a registered investment advisor.
ERHE's share price fell six cents this morning to $0.66 before recently improving to $0.69, off three cents for the day. Volume remains light at 943,402 at 10:38am EDT.