@ARickmanLook it’s not a dumb question but it happens on 90% of...

@ARickman
Look it’s not a dumb question but it happens on 90% of stocks on the ASX so don’t think IMU is any different.
The obvious answer is that there are some big players wanting to accumulate a bigger holding as they’ve either sold out at .13-.14 in December or now that IMU has a far higher MC certain Institutions are now allowed to stake a claim.
Pretty sure they want to get it at the lowest possible price (as we all do) so if they want to accumulate say a 30 mill holding, they can use a couple of mill to sell into a lower price. So, sell a mill to gain four mill. Rinse and repeat.
This is not a new practice and it’s going to continue for as long as the ASX allows Algorithmic trading.

Its not all bad though, you can chose to work with them. When they are distributing, sell some yourself, when they are accumulating, buy some yourself. No need to become a statue investor.

Cheers.