One of the high-momentum trades that’s gaining attention in today’s market is Indonesia Energy (NYSE:INDO). Today, INDO stock has surged approximately 80% higher at the time of writing on very heavy volume. The thing is, this move comes without a clear catalyst.
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On very red days like today in the markets, investors often gravitate toward outperforming stocks. Indonesia Energy is a small-cap stock that certainly fits the profile of a volatile stock in the past. During the meme rally of early 2021, INDO stock surged alongside other names as retail investors flocked to more speculative small-cap options.
Could another short squeeze be underway for this company? Perhaps.
However, recent drilling updates provided last month suggest perhaps the market is pricing in some significant success with the company’s efforts. As reports flow in, this is a stock we’ll be looking to provide more color on.
For now, let’s take a look at five interesting things investors may want to know about Indonesia Energy.
What to Know as INDO Stock Surges Today
- Indonesia Energy is an exploration and development energy company focused on strategic, high-growth energy projects across Indonesia.
- Additionally, the company’s key assets are located on the islands of Sumatra and Java in Indonesia.
- Indonesia Energy has more than 1.05 million acres of land to explore and develop.
- As an early stage energy company, surging commodity prices have provided a boon for this company’s speculative energy assets.
- Drilling operations suggested early success, leading some investors to take the view that this is a potentially undervalued stock relative to its forward-looking prospects.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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