Indonesia Energy Corp. Meme Traders Need To Actually Read SEC Filings


  • The effective Indonesia Energy’s equity capitalization is over $150 million compared to only $2.45 million revenue in 2021.
  • A major portion of their annual revenue is used just to pay their top executives.
  • They had a loss of $6 million in 2021 and continue to burn cash.
  • A large shareholder is trying to sell shares.
  • This is another example of irrational meme trading.


ErikdeGraaf/iStock via Getty Images

Indonesia Energy Corp Ltd. (NYSE:INDO) is a tiny Indonesian oil company that got the attention of meme investors earlier this year as oil prices soared. Buyers of this stock clearly didn’t actually do any research

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