Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
This morning, Range Resources (RRL) returned from its self-imposed six-month suspension. As of writing, the stock is up 70.7% at 0.96p. After the issue of 650million shares to Sibo, for the £5.2million lifeline announced last week, Range will have 5.77billion shares. This values the company at an eye watering £53million and leaves only one question. Has the market lost its mind?