Mexco Energy Corporation (AMEX:MXC) shares up 172% since Friday

You have to love a company with the ticker MXC, no its not Kenny, Vic, and Guy LeDouche running the company. Turns out Mexco Energy Corp. (AMEX:MXC) hit black gold in Texas after drilling a well to a depth of almost 6,680 feet.

Mexco Energy Corporation acted as operator of a discovery well drilled to a depth of approximately 6,680 feet in the Cherry Canyon producing interval in Loving County, Texas. This well produced from a 45 acre drilling and spacing unit on a 24/64" choke flow test on May 16, 2008 at a rate of 3,450,000 cubic feet of gas per day with a flowing tubing pressure of 1,000 pounds per square inch, 912 barrels of water and 48 barrels of oil per day. Mexco's working interest in this well is 31.25% (net revenue interest of 22.94%).

The stock is out of control, on Friday it was at $17 a share and today it's trading over $39.

The tiny numbers they've been putting out over the last few years is about to spike like crazy, but will Wall Street let shares continue to trade so high?

Financials

 (In millions of USD)

Finviz.com has some quick analysis on MXC and the Masters agree, this stock is set for a pullback:

MXC 39.06 40.00% 520342 Overbought REST 1.56 0.00% 3185 Overbought HUSA 7.91 3.40% 68402 Overbought CKX 20.25 49.45% 48028 Unusual Volume JAZ 1.48 74.12% 1027166 Unusual Volume MXC 39.06 40.00% 520342 Unusual Volume GRH 25.07 6.00% 76793 Unusual Volume RAVN 36.32 5.64% 244782 Upgrades AZO 128.38 0.45% 499729 Earnings Before ASRV 3.03 1.34% 44020 Insider Buying

With the way the market has been behaving, take your profits while you can before the Shorts come knocking on your door.

Quick plug for Finviz.com, do check out their site, it's got some pretty slick analysis tools and I really like the insider buying information.

Disclaimer: No positions in MXC.