It's a common misconception on HC that all stocks are manipulated prior to a CR. In this scenario it has simply taken a few reports, articles, columns to generate the required liquidity for the share price to jump (and get a speeding ticket in the process).
With companies like IOH, they know they have a window of one or two quarters in which they will need to raise capital. As soon as the share price appreciates they will capitalise on it.
I make this comment as it distinguishes good management from bad. In this case, when we have an identifiable reason for the share price to be so volatile, it proves management are helping out shareholders by having the CR gun loaded and as soon as they seen momentum fall on the appreciating share price, they pull the trigger to try and get the best price.
Imagine if they did it two weeks ago at sub-$1.50 with a $1.30 price tag. Ouch. Companies that leave it to the last minute sometimes get stuck in that position and that's when shareholders have the right to scream.
All good here with IOH and just one page of a big story.
IOH Price at posting:
$1.86 Sentiment: LT Buy Disclosure: Held