Enet is benefiting from a few things, a terrible bear market where not many penny stocks are rising so those that do get more attention, a crowd of quick buck merchants all pumping the same stock and of course fomo traders who seem to think buying a stock up 100% in a bear market is a sensible thing to do and paying 15 times the price it was 2 weeks ago and buying a stock running out of money too is also worth a go, hundreds of decent penny stocks out there and not a buy in them for weeks or months, put them up 100% and all the idiots looking for a fast buck will pile in.
Maybe I should do the same, just buy a crazy stock going bust and post none stop saying it's going to fly, post no real info and just ramp the hell out of it like everybody else does on the LSE...
RE: WHEN This Reaches 20p I'm going on HOLIDAY1 Nov 2023 08:39
Just remember all of these people predicting silly prices are pump and dump traders, they have no interest long term in this stock and they are after their usual daily profit. Do some research on Enet and they are still is very serious financial trouble and if they have not took advantage of the spike to raise money then they remain in trouble
Still holding. Will take something special to move these stocks on results day, 7.7p trades are buys so somebody has had a punt already on the results being good or surprise news with it
Like I said 99% are people losing money. 14.32pm 287078 pays 1.7925p, 15.25pm sells them again for 1.766p, that is all I see all over now, people who cannot hold a stock taking losses.
See INSP as a example of what I'm on about, the first trade of the day the 21 mil, just beggars belief what day traders are doing, they take massive risks on wide spreads only to sell for next to nothing profit or a huge loss
I'd guess out of thousands you will get one or two winners but all I see it me matching up buys with people selling again within a hour or so for huge losses, if they are that jittery then they have no chance they will end up bankrupt because the mm's will shake them out, this was one of those freak spikes in a bear market mm's decided this one would get spiked to the moon, some made money but a lot thinking buying a stock at 10-17 times the price a few days earlier was worth the risk, it does not matter what the news you do not even think twice do not risk it.
Day traders are parasites, they have ruined the stock market this year. If you look closely at these stocks people are just jumping in and out for £50-100 profit, nobody made 1000% on this I doubt many made 100% they are way too jittery to hold a stock for a decent gain, that is why the stocks spiked back down as quick as they spike up