GTE Stock: 5 Things to Know About Gran Tierra Energy as Shares Skyrocket Today

Gran Tierra Energy (NYSEAMERICAN:GTE) stock is soaring on Thursday with heavy trading of the stock.

close up of oil pipelines at sunset

Source: Shutterstock

As of this writing, more than 343 million shares of GTE stock have changed hands today. For some perspective, the company’s daily average trading volume is 7.56 million shares.

So what exactly has GTE stock soaring higher today? The company did provide an update yesterday on its performance in 2020 and plans for 2021, but that’s probably not the catalyst behind this boom. Instead, social media stock traders are likely the cause.

GTE is frequently popping up in social media posts alongside stocks boosted by investors over on Reddit WallStreetBets. These investors have been holding shares of stock to push up their value and damage short sellers.

Keeping that in mind, here’s what potential investors need to know about GTE stock before diving in.

  • Gran Tierra Energy is an oil and gas company focused on exploration and production in Colombia and Ecuador.
  • The company is headquartered in Calgary, Canada, and is incorporated in the U.S.
  • It’s lead by Gary Guidry, a 35-year veteran in the oil and gas industry.
  • Gran Tierra Energy was founded in 2003 and went public in 2005.
  • Its current market capitalization is sitting at $248.1 million.

Investors that want to know more about why retail investors from r/WallStreetBets are boosting up stock can get up to speed with the following articles.

GTE stock was up 34.3% as of Thursday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC