Great summary for all the newcomers to the thread Mooseadventures. Wish it was possible to pin informative posts on hotcopper so that they don't get lost in the chat. Besides the fundamentals and the bullish chart for IBX I also look at hype as a factor before investing in penny stocks. Recently the hype for IBX has started building again, twitter, facebook, youtube, hotcopper...people are starting to take notice of IBX and its risk vs reward for 2021. I still believe we are early to the party for IBX, instos restarted the bull run again, and now retail are just catching on. I think now its retail's turn to push on the bull run.
Instos will keep buying, but they are smart, they will do what they did today, they will cap the stock and let it consolidate as they buy up, because its in their best interest to buy in at a good average. Instos deal with large sums of money, and often the volume of sellers at a single price point just isn't enough for their order to get filled, for example a typical line of sellers around 1 million equates to 100K dollars worth of stock. Investment funds are usually worth billions and bigger ones like Credit Suisse manage almost a trillion dollars. Now based on the broker data from last week, Credit Suisse bought 500 thousand dollars of IBX at around 8.8c. But there never was 500 thousand dollars of stock for sale at a single price point, so Credit Suisse would have to keep buying at higher and higher prices, increasing their average buy in. But by capping the stock, selling and dumping, then buying at a lower average price point, they can accumulate a large number of shares at a bargain, inadvertently stealing shares from gullible retail. That is why on broker data you will always see both buying and selling by the insto in the same week, with a net increase or decrease in their position size.
IBX has all the characteristics of the next BRN, loved by both instos and retail, pumped to infinity before they even finish their product. I think we are still early to the party, IBX is only just starting to heat up, some good announcements from management and we could hit 50c even before we actually deserve to be valued at 50c. I invested in BRN early on because I liked their product, I sold out at 40c when I found their valuation to be quite ridiculous, but it did run on until 90c I think before falling hard. Whether IBX has a slow and steady rise or a pump to infinity, long term holders will benefit either way.
Please DYOR, and nothing I have said should be taken as financial advice.
IBX Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
