The charts indicate a progressive downhill slide for IMU which will bottom out around about 4c (with some optimism). Why would this be? There are a number of reasons. The first and most obvious is the lack of institutional support. Of the top 20 shareholders, 9 are so-called “retail investors” meaning they are not institutions. This indicates that IMU is deficient in attracting the support of those institutions that make a business out of backing promising enterprises with a definite future. The optimism of many supporters here, despite the facts , needs to be questioned. Most of the supporters who were here 3 years ago, when I too was an enthusiastic investor, have disappeared, no doubt due to disillusionment with IMU. I am rather amazed that they have been replaced, primarily due to continued optimism peddled by the executive.
IMU Price at posting:
4.9¢ Sentiment: Sell Disclosure: Not Held
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