Indonesia Energy News: Why INDO Stock Is Rocketing 110%+ Today

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Indonesia Energy (NYSEAMERICAN:INDO) stock is soaring higher on Wednesday despite a lack of news from the company.

A close-up shot of pipelines with a setting sun in the background.

Source: Kodda / Shutterstock.com

The rising price of INDO stock comes as shares experience heavy trading this morning. As of this writing, more than 5 million shares of the stock have changed hands. To put that in perspective, the daily average trading volume for the stock is only 14,049.

SO what exactly has shares of INDO stock taking off today? The reason is still unclear, but it’s possible the company’s 1.5 million-share float has something to do with the increase. It could also be experiencing extreme volatility that will have it fall again in the near future.

Keeping all of this in mind, here are a few things that investors need to know about Indonesia Energy.

  • As the name implies, Indonesia Energy is an energy company based out of Indonesia.
  • Its main focus is on the oil and natural gas markets for the area.
  • Frank Ingriselli is the president of the company.
  • Ingriselli has experience in the market having served in various executive positions at Texaco from 1979 to 2001.
  • Prior to joining Indonesia Energy, he also founded Pedevco and Pacific Asia Petroleum, both of which are energy companies.
  • Leading the company alongside him is co-founder, chairman and CEO Dr. Wirawan Jusuf.
  • He’s led the company since 2014 and is also the director of Maderic Holding Limited.
  • This is a private investment firm that is the majority shareholder of INDO stock.

INDO stock was up 114.4% as of Wednesday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/12/indonesia-energy-news-why-indo-stock-is-rocketing-110-today/.

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