ION Geophysical Corporation Shares Rose 325%, Here’s Why.

ION Geophysical Corporation (NYSE:IO) has been gaining significant momentum over the last year. IO stock surged more than 325% in the past twelve months alone.

ION Geophysical is an oilfield services company. The improving oil prices and strengthening investments from exploration and production companies provided the support to ION Geophysical stock.

Source Image: finviz.com

Oil prices had experienced substantial volatility in the past three years. After declining to the lowest level of $27 per barrel at the beginning of 2016, oil prices increased steadily in the next two years.