Let's not let facts get in the way of a good story, eh? Dr. Tillet (
@Davisite) never left the forum. He did resign from RAC (on 21 March 2023), however he has always remained engaged on HotCopper even when he was no longer employed by RAC. Or are you referring to a different forum?
So maybe you're referring to RAC's share price crashing during the period when Dr. T was not a RAC employee? That would be from 21 March 2023 - 22 August 2023, when he was brought back and engaged as a consultant to the company, and made CEO on 22 November 2023. I'll be first to admit that Dr T's departure hit sentiment in RAC, and RAC's share price performance was poor during this period, but as the following image shows (highlighted by the RED box), IMU's share price performed almost identically during this period:
So if it was Dr. T's departure from RAC or some forum that was driving the RAC share price (in BLUE) down during this period, what was it that was driving the IMU (in ORANGE) share price down? The logical answer is that it in both cases it was probably a combination of factors, including overall market sentiment, but likely nothing to do with Dr T.'s engagement or lack there-of on HotCopper or any other forum.
In fact, the image above also shows that RAC was performing the same or worse than IMU even after Dr. T re-joined the company, including several months after he became CEO. Indeed IMU was outperforming RAC up until early March this year - i.e. almost 6 months after Dr. T was back as an employee.
There's no doubt that there was turmoil within RAC last year - misalignment between management and shareholder interests, management changes, poorly though out and expensive strategies, money being wasted on expensive outsourcing, trial and drug formulation delays, etc., and all of this contributed to the share price decline that we saw. But the good news is that all of these deficiencies have been or are in the process of being corrected. RAC have completed a capital raise, have a new strategy in place, new and aligned management, and are delivering on milestones as per their plan. Perhaps this is all finally starting to be reflected in the share price.
In contrast, what was driving IMUs similarly poor performance last year, and what changes have been made within the company to address these?
There seems to be a bit of cognitive dissonance going on here. On the one hand people here are complaining about looking after the big end of town, issuing shares like confetti in capital raises, management selling rather than buying shares, lack of communication/transparency, jumping from one technology to the next without adequate explanation, etc., but when you have a company and management that is trying not to do all of these things and instead look after its retail investors, the company and it's management are also ridiculed.
As for
@Mason14, you may or may not like his research and the conclusions he reaches, but it seems he has put more effort into understanding and interpreting the information that IMU have released than anyone else here. The elephant in the room is that no one seems to have the ability or understanding to be able to dissect his analysis and provide an explanation of why and where it is incorrect, much less provide a solid case as to why IMU is a buy (rather than a sell) at these levels.
