Incorrect (as usual), the market took the SP to .625 cents, fundamentals had very little to do with it. Sure the funnymentalists had a fine old time discussing the potential and what IMU could become but of course the MC could never sustain that sort of hype. It was the perfect storm where the market combined CR’s , ASX300 and 200 inclusions and company announcements to drive it. To prove my point, there were far better continuous announcements after the the SP peaked which had zero effect on the decline. Too late, the market had already had its way with the stock and was laying back smoking a cigar.
Will take a miracle to ever see that peak SP again and half of it is highly unlikely. IMO.
Well there’s always a consolidation, that will do it.
Folks need to monitor how the markets work, trials aren’t always the main event as has been proven here.
Learn the markets guys, individual companies fundamentals are a sideshow to it.
Cheers.
IMU Price at posting:
3.6¢ Sentiment: None Disclosure: Held
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