Headquartered in Houston, Tex. Camber Energy, Inc. (CEI) operates as an independent oil and natural gas company engaged in acquiring, developing, and selling crude oil, natural gas, and natural gas liquids (NGL) in the Cline shale upper Wolfberry shale in Glasscock County, Texas. CEI achieved meme stock status last year, following its share price rally fuelled by retail investors' interest and discussions on platforms like Reddit and Twitter. However, the gains could not sustain due to its bleak fundamentals and its untimely filing of its financial statements.
The stock has been down 38.6% for the past year. Moreover, its shares have slumped 27.9% over the past month and 9.1% over the past five days to close its last trading session at $0.75. Also, the stock is trading below its 50-day and 200-day moving average, indicating an overall downtrend.
