INDO stock

  • INDO stock surges over 100% on Friday as oil prices rise.
  • INDO shares up another 27% in premarket trading on Monday.
  • INDO is an early-stage explorer with limited production so will not benefit much from surging oil prices.

It is good to see the retail frenzy is alive and well, and it has just moved from targeting short squeeze companies to targetting low market cap and low free float energy companies. Given the obsession markets currently have with surging oil prices, there is a certain logic to this. Indonesia Energy Corporation (INDO) appears to be one of the more favored stocks by the retail set who managed to double it on Friday alone. In fact for March, INDO stock is up over 400% already, an impressive performance even with oil itself surging. Indonesia Energy Corporation is an oil and gas explorer focusing on Indonesia, hence the name.

Indonesia Energy Corporation Stock News

INDO stock appears to have caught the attention of retail investors due to its very low share fre

Indonesia Energy Stock News and Forecast: INDO stock pumps, so wait for the dump

Indonesia Energy Stock News and Forecast: INDO stock pumps, so wait for the dump

FXStreet News FXStreet News 07.03.2022 15:42
INDO stock surges over 100% on Friday as oil prices rise. INDO shares up another 27% in premarket trading on Monday. INDO is an early-stage explorer with limited production so will not benefit much from surging oil prices. It is good to see the retail frenzy is alive and well, and it has just moved from targeting short squeeze companies to targetting low market cap and low free float energy companies. Given the obsession markets currently have with surging oil prices, there is a certain logic to this. Indonesia Energy Corporation (INDO) appears to be one of the more favored stocks by the retail set who managed to double it on Friday alone. In fact for March, INDO stock is up over 400% already, an impressive performance even with oil itself surging. Indonesia Energy Corporation is an oil and gas explorer focusing on Indonesia, hence the name. Indonesia Energy Corporation Stock News INDO stock appears to have caught the attention of retail investors due to its very low share free float. This makes it more volatile, and with oil prices surging this suits some traders who like to jump on surging momentum. INDO stock has been one of the top trending stocks on the usual social media message boards for the last few days due mostly to its surging price. As ever in such a scenario, we would urge caution. This is momentum trading not investing, so wild swings and heavy losses are a distinct possibility. INDO is a tiny company with a market cap of $300 million now despite revenue never being more than $6 million over the last five years. "IEC's average daily production rate over the first 10 months of 2021 was approximately 160 barrels of oil per day. Since completion of the Kruh 26 well, IEC has been averaging production of approximately 245 barrels of oil per day," it says on the company website. At full-scale production for a year that barely gets over $10 million in revenue. Yet traders have seen fit to quadruple its share price in about a week. This should be ringing alarm bells for most of you. For those that like to trade volatility, go ahead. Just know that this is a pure momentum trade and could fall back just as quickly as it rose. Indonesia Energy Corporation Stock Forecast INDO has a tiny free float of about 2 million shares. That means with volumes surpassing 30 million shares on Friday, it is pretty easy to get it moving. This is way overdone and likely to come tumbling back down to earth. If you want to have fun, go ahead, but know your risk and trade what you can afford to lose. The nature of these types of moves, which we are getting more and more used to knowing, is that momentum is very powerful in the initial stages. Once reality sets in, the first down day is the sign that momentum is over and the crowd moves on to the next opportunity. So try not to be late for the party. INDO stock chart, daily