GTE - Shares of Gran Tierra Energy Surge After Earnings
Shares of Canadian oil and gas producer Gran Tierra Energy (NYSEMKT: GTE) are up 17.5% as of 11:30 a.m. EDT today. The surge in price comes after the company posted first-quarter results that showed promise for the small-cap stock .
Before you get too excited about that 17% gain, it's worth pointing out that Gran Tierra has a market capitalization of $290 million. Even by small-cap standards, this is a small company that is going to see wild swings in share price regardless of the news. In the past year, the stock has traded from 25% below to 240% above its year-ago share price. A significant news event may not even be necessary to cause a double-digit swing for this company.
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Shares of Gran Tierra Energy Surge After Earnings