Not sure you can compare the spike in March 2016 with yesterday's action, Danny.
IOT today is a vastly different company.
The March 2016 spike was in the back of relisting after they had announced to the market,
1. They had developed the world's first flying selfie camera. The mighty Roam-e.
2. There would be an initial production of 10,000 scaling up to 50,000 of these selfie camera products per week. With projected sales of 400,000 a year.
3. They had bought OK Connect and had a range of wearables ready to hit the market.
4. They were developing a Facial Recognition software. AGNOSCO.
5. They had a ready to go IPTV service that would generate millions in revenue.
6. Holographic Systems were being developed for future release.
7. Home Automation, was the next big thing in the pipeline also.
21 months later nothing.......... they are distributing 2 drones, with undisclosed sales numbers with an unknown margin.
Seems to me like a lot of people just want out before Xmas, as there will be nothing to sustain sales after.
The January quarterly will be a puff piece about how good they have been at opening up sales channels, repeat orders are flowing in and record revenues were generated.
Happy for traders to make money here and good luck to all shareholders.
IOT Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
