Hey Steni,
I'd suggest there's some profit taking going on. IMU before yesterday, was up some 20-25% since New Year. Charts are always a great indicator, however it simply looks like retailers parting with shares have dried up. Someone (not an institution) as the monetary outlay that saw a spike over the past week, wasn't enough.
Some suspected a leak on impending news, which I've been wrong in suspecting many times.
On other threads, some are talking about spills and ousting's of board members based on strikes coming out of AGM's. With all respect to charts and technical analysis, IMU's fate (for mine) rests with fundamental analysis over this next six months, especially.
There probably wont be another AGM or IMU functioning by November, should great data or deals providing capital support or revenue, become available before then. Another AGM is 10 months away, and that's about how long our capital including the piddly $20m raised on the brink of Christmas will last.
Leslie has no problems taking over $2m + options of a similar value as CEO, regardless of share performance. I'd suggest whatever she has to state publicly, should now have weight to it. Put simply, we're running out of time and need some new tunes, should they hold something they think will be a hit.
That capital raise of approx. 500m shares & options being printed off, means they can only print another 300m shares between now and Christmas.
On todays trading that would provide an additional $13m or about two months of capital.
Therefore, the time is NOW. Whatever data or deals IMU's been sitting or waiting on - Is crucial !
Whilst many of us being all in, may have dried up some of the retail offering, providing the market with more buyers than sellers temporarily. That wont change the incoming or outgoing tide, once IMU shows it's cards.
Forget historical trading patterns or seasons, it will be boom or bust !
I'm banking on, and have put a small fortune into BOOM !
-GO IMU!
Not Financial Advice - Opinions Only - DYOR!
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