Although I have not seen the change in the direction, chart wise, from my last post two weeks ago, I've been lately accumulating in 20~21c region. -still holding less than my once biggest position.
I still see falling to next support level 16c a possibility but also see a huge upside if direction changes so I'm taking a punt for the below reason
- 35c capital raise established general market confidence of the stock. The theoretical floor should have been around 35c but macro decided otherwise. - If we were still at 35c, I wouldn't be topping up after knowing Dr Sud's exit. But since we're at 20c (which is around Sud's major purchase price), I don't see him dumping his shares at this price level. -APIRx purchase price was ~$125m and at this SP, we've basically bought the company for ~$44m. It's pretty cheap price to pay for the patents and talents.
To sum it up, I see the current market cap to be very reasonable albeit downside risk.
IHL Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
