The Mystery of CKX Spike Solved
On Tuesday, CKX Land (CKX) spiked up in
price from $13 to $24.50 per share leaving me flabbergasted and a little
wealthier. I dumped my entire position and then watched it fall back to the $14
range. So what’s the answer to the mystery? It’s an oil and gas company!! Every
small
cap
energy stock out there spiked up in price. It was my mistake to try to find a
fundamental reason behind it. Oh wait...the price for an asset always reflects
its fundamental value, doesn't it? There's never any speculative
money
pushing the price up above its intrinsic value? No way, that couldn't
happen.
Here are some others that spiked up.
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