ENT.AX Enterprise Metals (ASX) -20% to A$0.004 on 17 Feb 2026: volume risk

ENT.AX stock closed down -20.00% at A$0.004 on 17 Feb 2026, after a heavy volume spike of 5,674,839 shares. The drop moves Enterprise Metals Limited (ENT.AX) further below its 50-day average of A$0.00436 and well inside the thin‑liquidity range traders watch on the ASX. With no major company announcements today and an upcoming earnings notice on 12 Mar 2026, the price move looks driven by short-term flows, not fresh fundamentals. We look at liquidity, metrics and a scenario-based forecast to frame risk and opportunity.