J.P. Morgan’s sizeable stake comes after Citadel and BlackRock increased their holdings in ENDP as well. This is important. Large institutional buyers could mean that the bottom is in for ENDP. The stock has not closed below $15 per share since Q2 earnings were reported. Secondly, large flows into the stock could cause it to shoot higher prior to Q3 earnings. Lastly, retail investors love to follow the “smart money.” Investors come no smarter than Jamie Dimon, Citadel’s Ken Griffin or BlackRock’s Larry Fink. Now all we need is for one of those guys to talk up the stock to the press and ENDP could go to the moon. Stay tuned …
