Why did the Eurasia Mining (EUA) share price explode last week?
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Eurasia Mining(LSE:EUA) share price surged as much as 20% last Thursday. The stock has since come down a little but is still trading higher than before the initial spike. And since June 2020, the company is up by around 117%. But what caused this sudden surge in value? And is it too late to buy?
The surging Eurasia Mining (EUA) share price
I’ve previously explored Eurasia. But as a quick reminder, the business is a young mining operation that extracts a wide range of metals from the Earth’s surface. These include gold, silver, copper, nickel, platinum, palladium, iridium, and rhodium. Generally, these materials are quite rare and are essential ingredients in the construction of electric vehicles and renewable energy technology.
These UK shares just posted strong results and investors can’t seem to get enough of them. Manika Premsingh explores the pros and cons of buying them now.
US$12.3 TRILLION out of thin air…
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However, I’m comfortable with the level of risk involved in buying these companies. There are a couple of businesses I would acquire for my portfolio today as economic reopening plays.
Penny stocks to buy
Capital & Regional(LSE: CAL) is the first company I would buy as a recovery play. The firm, which owns seven shopping centres around the UK, has muddled through the coronavirus crisis. It collected just 59% of rents due for the first quarter of 2021. I think that illustrates the challenge the group now faces.