Addax Petroleum (fka AXC)

[ssc]

Depends how one defines "normal market activity". If one takes it to mean every tiny oil exploration company that shares in some way with drilling a well automatically sees its shares go up prior to drilling, regardless of financial condition, reality will slap you down faster than you can say "delusion insurance" and you were in for a big (and expensive) disappointment.

On the other hand, if one takes it to mean the market punishes a company that relies solely on toxic debt for its existence, that sells off huge chunks of the company for a couple of million dollars, and has no problem diluting its shareholders into oblivion, then the erhc stock action came as no surprise.