Old hype emerged again ENBC
Is it real this time?
ENBC was a star in 1993 and 1994. It was traded as high as $100 sometime in 1993 during biotech mania. It, then, trended down to $ 1 7/16 at the beginning on Thursday. This may suggest that ENBC was been loved by many who believed its innovation but lost their patient after 6 years. ENBC's ugly financial report may explain what was happen in the past few years.
Now, we have a shape turnaround by shooting up 360% due to a Press Release which claimed that the company's clean gas biotech would make great contribution for the refine industry. Technically, someone call it "Power Spike" from then the stock may be turned around. Given ENBC glory history,is today its reversal day? Are we going to re-test our history high? I see no relevance of how its current financial report looks like. The key is future. The market for clean gas is too huge: not only in US but all world. Thus, if the press release is real not hype, ENCB should have a chance to regain his past glory.
I bought it because I could not refuse its huge potential.
We have had many hypes in this market, I hope this one is real. The Operating Officer was a PH.D, I hope that he really knew what he was talking about. |
