Ann: Incannex to Acquire APIRx Pharmaceuticals, page-344

I agree with this and it looks like trading today on the NASDAQ is bearing this out (see what I did there).
As I mentioned a while back, the massive pump and dump that occurred in the early days of trading on the NASDAQ carries some momentum, and it appears that could be part of what is dragging us down further. Certainly the volatility on this stock has increased, starting a few weeks before listing (when US investors were already starting to trade on the ASX). To overshoot downward what might otherwise be a reasonable consolidation point, is a reasonable expectation given the circumstances.

There will also be the heavy hitters looking to 'help' this downward momentum along in order to mop up some discounted shares. Psychologically, they may be aiming to break the 50c barrier, so we'll see. I'm sitting tight with my 'buy-back' parcel so far, but might re-enter tomorrow.