Agree but it also goes to show the inefficiency of markets. That...

Agree but it also goes to show the inefficiency of markets. That a tiny acquisition can drive the market cap of icar from 18c to 30c, above what the market previously valued icar's entire Indonesian business and possibly Thailand's business as well is crazy.

there was a bit of underpricing that caught up and good news is obviously good in terms of demand for the stock but you wonder how sustainable this rally is given 3rd quarter cash flows and 4th quarter cashflow outlook is unchanged. Probably by the end of the year cash would be close to 10mn ex acquisition and probably 7mn with the acquisition from 13mn as of June.

count me as trimming my position here and waiting for a proper pullback to add it back.