Somebody has been persistently dumping stock into the market from off screen for days and days. They seem to be the handbrake on a rebound.
IIN's substantial holders hold about 50 million shares. The top 20 holders (most of whom are long term holders) held some 80M shares at June 30. 109 million total on issue.
About 30mill have changed hands since Nov 30. So half of the non-substantial shares have changed hands and probably a lot more than half of the free-traded shares (as many of the top 20 are not likely to have sold) have changed hands within a couple of months.
I'd say the selling is due to come to an end very soon as whoever is offloading must soon run out of scrip.
Then the lid will come off.
Just my opinion.
IIN Price at posting:
0.0¢ Sentiment: None Disclosure: Held
