$1 Club, page-20904

This is a stupid comment. Sorry.

But to try to answer it anyway, from the research I have done, it appears that the shareholder register is heavily dominated by private/retail investors.

I can only imagine that the previous price action, speeding tickets, and ASX “please explain” has meant that most institutions are wary of buying in until they seem some validation of figures. IOU has been derided in some financial papers as another Reddit meme stock. So they’d be cautious, especially with fund bosses checking the tapes.

I’m also unsure how re-hashing numbers that the Malaysian CEO provided in an investor presentation qualifies as “ramping”, but whatever.

That’s just my interpretation, happy to hear yours if you wish to share something sensible.