By Denny Jacob
HNR Acquisition shares lost a little more than half its market share value a day after completing its business combination with Pogo Resources and its subsidiaries.
The stock declined 51% to $3.33 in early trading Thursday. Trading was paused for volatility at 10:40 a.m. ET but resumed five minutes later.
HNR, which was a blank check company, said Pogo and its subsidiaries assets include interests in an oil field in the Permian Basin in Eddy County, New Mexico.
Write to Denny Jacob at [email protected]
Read the full article here