Indonesia Energy Stock Still Trading Way Too High Because Of Meme Trading


  • Indonesia Energy has an equity capitalization of $64.7 million, but it only has 5 oil wells.
  • Total revenue so far this year is just $2.33 million with an operating loss of $1.92 million.
  • Their drilling program has been put on hold for 12 months.
  • They are selling additional shares under an ATM deal to raise needed cash.
Map of Indonesia on the world globe

200mm/E+ via Getty Images

Indonesia Energy’s (NYSE:INDO) stock price has dropped about 65% since my article last May, but it is still way too high relative to their operations. The current equity capitalization is $64.7 million, which is completely irrational since they only have 5 low producing oil

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I often trade ENGR.IJ, but I currently have no positions.

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