Yes very interesting action today! Sharks had a feed after the price hit sub 30c..Down 20% at one point ending a few % down. Super high volume on the tight ending range might indicate the smart money started loading up at the distressed levels. Saw a lot of traders offloading smallish lots (10000 or so) on the way back up to 33c (where it sat most of the day). Any larger offloads (200-300k shares) to 32.5/32c where almost immediately bought back to the 33/33.5c level.
Not sure where this one might stand in the long term... It's future viability relies on a few factors, but it does have assets and I would suggest a lot of the buyers now will be looking for either a takeover or buying in for the low valuation of their net assets (Ie. the amount that could be extracted and returned to shareholders if infigen packed up shop), and not for any likely short term return to profitabilty..
IFN Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
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