24/7 Market News Snapshot 09 January, 2025 – Sky Quarry Inc. Common Stock (NASDAQ:SKYQ)

January 9, 2025

DENVER, Colo., 09 January, 2025 (247marketnews.com) – (NASDAQ:SKYQ) are discussed in this article.
Sky Quarry Inc. (NASDAQ:SKYQ), a leader in the waste asphalt shingle recycling industry, opened at $1.54 today but is currently trading at $1.39, experiencing a decline of approximately 2.21% following a previous close of $1.36. The trading activity has been notable, with current volumes reaching 2.23 million shares, suggesting increased investor engagement. Market analysts indicate that the stock may find support at $1.36 and encounter resistance at $1.54, highlighting the importance of monitoring upcoming price movements and potential reversal patterns that could reflect broader sentiment towards the company’s strategies and growth in the renewable energy sector.

In addition to these trading dynamics, Sky Quarry is committed to enhancing shareholder value through strategic stock management initiatives. The company recently communicated its guidance to shareholders regarding the benefits of optimizing their account holdings. Specifically, it encourages those with shares in margin accounts to consider transferring them to cash accounts. This recommendation is based on the potential risks associated with margin accounts, which allow brokerage firms to lend shares to short sellers, thereby potentially placing downward pressure on stock prices.

By suggesting this proactive step, Sky Quarry aims to protect the true value of its stocks. The company believes that preventing shares from being borrowed by short sellers will create a trading environment that more accurately reflects its underlying fundamentals. Sky Quarry has made it clear that initiating such an account transition is an easy process, and shareholders are advised to engage with their brokerage firms to adjust their account settings accordingly.

Sky Quarry remains resolute in its mission to advance sustainable practices in waste management and views collaboration with its shareholders as integral to achieving long-term success. Together, they can transform the recycling landscape while championing environmental responsibility.

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