IHL was trading at around 50-60M MC for months after the epic breakout we had last year. We traded at that level until the Peloton placement for 5M at 7.8c happened. Ever since, broker data has indicated enormous buying from Pershing and their clients as the major net buyers since then, major sellers being retail.
On the fundamental side of things, nothing has changed negatively and instead only positive updates have happened to the company and they are ticking the goals they were promising to do last year such as achieving the 1000 patients by the end of 2019. Which they did in basically 3 months.
Also keep in mind the volumes being churned in that time period, a lot more active than now. If the market saw IHL as fair-value at 50-60M MC on nothing but promises, now more than 6 months later when they have achieved many of those promises and have continued to progress the company towards its catalysts, I see no reason why the market shouldnt mark IHL back in the same position as it was before if not valued higher because now they have actual milestones ticked instead of promises and hype.
Two of the REAL catalysts and company makers that have been announced over a year ago now are about to commence this quarter. Who is ready to take the risk/reward here? It's been too long since the last biotech booms on the spec side of the ASX. Will IHL be the first of 2020?
