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(iStockphoto)

Spikes in Gasfrac trading raise spectre of activist investor

Unusually large recent trading volume in Gasfrac Energy Services Inc. shares has raised speculation the company, known for its unique oil and gas rock-fracturing technology, could be the target of an activist investor.

Gasfrac stock has languished. It is down 20 per cent from a peak of $2.07 at the start of the year as the company has struggled to sign up new customers for its fracking technology that involves the use of propane rather than water.