Rex Energy Corporation (NASDAQ: REXX)
Rex Energy Corporation is having an incredibly strong trading session in the market today. When the opening bell rang and trading started for the day, the stock was already trading well into the green. From there, we saw some upward and some downward movement, but overall, the stock is staying up on impressive gains. Below, we'll talk about what we're seeing from REXX, why, and what we'll be watching for ahead.
What We're Seeing From REXX
As mentioned above, Rex Energy is having an overwhelmingly strong day in the market today. When the trading session opened, the stock was already trading on impressive gains. From there, we've seen some upward and some downward movement, but overall, the stock is trading relatively flat, holding onto pre-market gains. At the moment (10:49), the stock is trading at $0.78 per share after a gain of $0.05 per share or 7.46% thus far today.
Why The Stock Is Headed Up
This is a much needed reversal in the trend we've seen on the stock as of late. However, it's coming for good reason. At the end of the day, the number one reason that REXX and others in the basic materials sector are running upward is Donald Trump.
On Friday, Donald Trump officially became the President of the United States. Throughout his campaign, he talked about various ways that he plans to improve economic conditions in the nation. One of the big points he would drive home is that we can be energy efficient. Consistently pointing to the ground and saying that the United States has its own resources, Trump set the stage for gains in Rex Energy and others in the industry.
Yesterday, more came out with regard to the story in after-hours. As political figures spoke, they spoke of the fact that the United States can indeed depend on its own resources. Comments were even made by trump surrounding the idea that overzealous environmental protection plans are leading to further economic hardship. All in all, Trump is likely a great president for REXX and others in the industry. So, investors are excited, sending the stock upward.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on REXX and others in the basic materials and energy industries. If Trump follows through with his promises, these companies will likely do overwhelmingly well ahead. At the moment, it seems as though that's the direction things are headed. Nonetheless, we'll keep a close eye on the news and bring it to you as it breaks!
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