Absolutely. Momentum traders rarely have any real in-depth knowledge of a company. They are more interested in buzz, recent news that can "explain" the momentum, trading volume and charts.
They "scalp" trades. They do not care about getting in at the lowest recent price. They want to mitigate their risk and are fine with just scalping for 10, 20, 30 50 % returns in days.
They could care less about buying, holding and accumulating (and hoping and tying up their capital for other scalping trade opportunities).
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