Antelope Enterprise (AEHL) stock rocketed higher on Wednesday despite a lack of news from the emerging energy supply company. There are no new press releases or filings with the Securities and Exchange Commission (SEC) that would explain today’s massive rally.
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Instead, it looks like retail traders have taken an interest in Antelope Enterprise for an unknown reason. This could be a pump-and-dump, as there have already been several of these this week. A perfect example of this was yesterday, when several Chinese holding companies saw their shares surge without any clear news.
It’s also possible investors are interested in Antelope Enterprise for its Bitcoin (BTC) plans. The company announced its intention to create a Bitcoin treasury in July, with $50 million provided by investment firm Streeterville Capital, LLC. These types of plans have proved popular with traders, sending shares rising on crypto purchases. While Antelope Enterprise hasn’t bought any Bitcoin yet, investors may be getting in early before the acquisition results in a possible rally.
Antelope Enterprise Stock Movement Today
Antelope Enterprise stock was up 355.07% in pre-market trading on Wednesday, following a 5.73% rally yesterday. Even so, the shares have fallen 59.42% year-to-date and 93.87% over the past 12 months. Today’s movement came with heavy trading of AEHL stock, as more than 18 million shares changed hands, compared to a three-month daily average of about 452,000 units.
Is Antelope Enterprise Stock a Buy, Sell, or Hold?
Turning to Wall Street, coverage of Antelope Enterprise is thin. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates AEHL stock Neutral (46) with a $3 price target. It cites “poor financial performance, characterized by declining revenues, net losses, and negative cash flow” as reasons for this stance.
