IMU is Underwater since last year when its SP drop from 12C to current level and its only way to build the confidence in the market to have good credible announcement like Azer-Cell, however no one should undermine short position 474M.
Everytime SP tries to recover a bit, Shorts dump 5M shares pull it back. Because of high liquidity and issue such a huge volume of shares (<7B, some may agree that this a corrupt practice), the only way it can recover with credible announcement. In my opinion, the IMU management this time did the right thing not to go to the market for CR, instead they decided to raise via convertible notes.
Shorts are again on top after selling at 43C and this time they may be pushing it hard possibly below 3.5C Again!
However, what matters is whether you believe in Science and what IMU trying to achieve at the end. Shorts will come and go (and they perfectly understand dynamics, sentiments, momentum, facts and figure) and more than 80-90% time they win, however if IMU can prove it can cure cancer with 60-70% CR, the winner in LT investors.
Believe in Science
IMU Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
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