IHL 0.00% 4.1¢ incannex healthcare limited

Got to disagree with this, data shows its pretty normal here, no...

  1. 7,751 Posts.
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    Got to disagree with this, data shows its pretty normal here, no conspiracy theory or controlling of price, its simply the free market:

    ihl2023.png

    You can see here with the latest price data, pretty normal volume and ranges occuring in the lat month.

    I think reality is this was a much loved stock in a bull market and probably got a bit ahead of itself market cap wise,still a lot of promise, but also has been some questionable decisions by management, the last CR that was not need a perfect example.

    As of now, can call this a consolidation period, holding the 16c-20c level is actually a win in my book, particularly in this macro market, remember we are not revenue generating biotech in an inflationary environment where capital is harder to come by, yet still valued around $270 million. Its actually not that bad, if you believe in the story maybe dont expect too much out of this year and things to pick up 2024.

    This year could be getting a good DCA , average price, ready for a run up. Personally Im not too concerned, Im expecting this year to be flat as ground work is being made, as the fruits of this work is released to market we hopefully get some re-rating to the upside in 2024 if management are savvy in handling the finances. Interesting one to watch unfold over the coming years. GLTAH
 
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