Why IMU is a multi multi bagger, page-20002

In theory that should be the case but in reality people are present biased. That means people are willing to settle for a smaller reward today as opposed to a bigger future reward. Even if they know they could wait and get more, people like to be rewarded immediately and thus will accept what would be an impressive reward in the moment (ie a 300% return). I am confident though that when the offer comes this'll be priced significantly higher. If bidders liked it in its current form they would have made an offer by now as the M&A market is still quite active in the healthcare space, so clearly they are waiting for a particular milestone. When that comes I'm sure the market will react first, and will price this stock at a more reasonable price ensuring that the offer which is made is more fair

Have to think about it from the bidders perspective though. They can see the market is only valuing this at 10c so why should they feel compelled to offer something astronomical? They'd look at this and would be jumping with glee, knowing that whilst it's worth $5/sh they can get away with only offering 20-30c because the ASX is unable to value non-mining stocks. It would feel like the steal of a century, and they'd have dreams of their massive bonuses. At the end of the day, bidders will offer the lowest price they can get away with, not the fair value.