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Willton

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05/05/21

17:10

Post #: 52962296
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Originally posted by DoubleDown!: ↑

I disagree, this has further to fall yet. While the chart does look like a double bottom at 9c and falling selling with the falling price over the last few days the gloss has completely worn off IBX. This will keep drifting down until it looks like something might happen. I've been in enough stocks and seen them crumble and thought it can't fall any further, and then it halves in price again.

There was no announcement specific to the Austin opening so I don't expect one for the Sydney site (I presume it's Sydney?) and I'd even go as far as saying that a first enrolment will only add a couple of cents to the SP. Management just haven't done enough to convince me they have taken the bull by the horns and will be improving their conversions of eligible patients to enrolments. The last quarterly was very scant on detail about ideas to make the happen. And it's clear the best motivator, direct financial compensation, is not an option.

Stocks don't stay in the spotlight for long and the market has moved on from IBX. I'm not even sure a successful trial would push this back to 20c+.

If I was holding I'd keep holding, if I was looking to buy them I'd wait, there is no rush and plenty of opportunity to get in lower. Just remember, Bob is still the CEO.

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double down, you are absolutely spot on. Your post sums up the situation perfectly.

IBX Price at posting: 9.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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