If this was not the millionth time this has happened with IMU in the years I have held, I would not be as annoyed as I am at present.
In the past, these incredible dumps have often:- Preceded positive news - leaving many of us feeling that the news had escaped and that someone with the ability to really churn a lot of volume got wind of it and took advantage of it.
- Come about after capital raises - there was a debacle raise back at around 6c a few years back and someone who came onto the register back then caused havoc for quite some time.
- Coincided with Management (mostly LC) implying significant positive trial and/or corporate developments which never eventuated. (Prior references to dance cards being full in the context of early buyout speculation etc).
If this was simply the market doing the sums on the sale and effective contract back of the manufacturing facility and working out that IMU had been dudded, I'd be OK with it. (Not happy but OK). However, my guess is it is more than that - as the manufacturing facility is immaterial to the long-term prospects for this stock.
(More) time will tell (again). And that is pretty tiresome.
(20min delay)