@bobbybro123, I don’t think Citi are providing any advice here....

@bobbybro123, I don’t think Citi are providing any advice here. I’d assume it’s soph’s acting on their own view (and possibly against their broker’s advice). Otherwise, on what basis do you think Citi are advising them to buy? Do you think Citi have access to some secret view of IOU that no one else has (insider trading)? Additionally, if Citi has some slam-dunk understanding of IOU’s future prospects that are escaping the market one way or the other, why on earth would they have advised their client(s) to buy such huge volumes at 24-20c? All that’s done is deliver their client a 65% loss in a short space of time. That ain’t how investment banks keep their clients. You have to think more critically and drop the fantasies.

The reality is, with a holding of 40M shares, those buyers are well and truly trapped right now. Look at the chart and the buy/sell depth on a daily basis. There’s not enough liquidity for them to exit even 25% of their position without completely crashing the price. Look, to all the people that want to think Citi know something no one on else does, go ahead and knock yourself out. But first maybe chat to the people that thought the same at 18c, 17c, 16c and were buying up then too. They might have managed to think about it a little more critically by now.