On Friday Enzolytics (ENZC) popped 48.58% while buyers increased the demand for the stock by trading 207,023,891 shares. Actually from Monday ENZC has been slowly surging amid good news from coronavirus stocks regarding the efficacy of their candidates. Unfortunately, ENZC didn’t even make the traders happy with successful clinical trials, acquisition, purchasing, or selling assets.
Despite having negative EPS and Beta the ENZC shares have been persisting to rise higher and surpass $1 while many biotech stocks are even trading above $10 in national exchanges. There is a phenomenal change in ENZC shares on September 16 when most of the massive shares buying whales paid close attention to the company.
Right now ENZC is a goose with golden eggs to gamblers who run away when they see more than 50% positive change but real investors may hold the shares for a while until the company announces the news that hints at future success. Therefore, the stock is repeating October 6’s quick jump. On Monday the shareholders will watch ENZC closely with intention of adding more shares to their portfolio.