Afternoon all,
It's a rainy day here in Brisbane and a far cry from the intensity of cyclone predicted, lucky I am used to FNQ cyclones.
I have been holding IMU for around 6 years now, and yes, I should have taken advantage of the highs of 2021, but I had no idea what I was doing with this stock (and stock in general) nor did I have the necessary understanding in which to take advantage of such a rapid increase in the stock price and the many other aspects that operate in synchronisation with stock movements. But here we are.....
Yes, it is disappointing to see the IMU SP floundering at the moment. There have been numerous posts on this topic, some with substance and depth, thank you to those who contribute to this space.
When considering the fluctuation in the SP and why some have not sold, I would like to highlight one of the Top 20 shareholders, this being the Mann Family who hold 3.56% or 265,582,609 shares (source: market screener). The Mann family purchased these shares well before the heights of 2021 and, if they had chosen to sell, would have made a sizeable profit. So, why didn't they? Really, why not? they could have made a shed load of money and walked away.....but they have and continue to choose to hold. Either they have bigger balls than the Brahman cattle that they run or they potentially know something that the average punter does not.
I also want to remind the faithful of LC's conversion of options around 2021 to the tune of $500k. Yes, she has been granted performance shares since then, but I would not think that she has broken even as yet.
Many of us are in the red on our holdings, I am no different.
PH's actions have, in my opinion, tainted the overall "perceived retail value" of IMU which has been significantly detrimental, but he hasn't done anything unlawful, if anything, it just sucks. When IMU gets to $1, he better well put the beers on. All the other "hanger on's" are just noise.
I have converted options so I am comfortable that some of my money has directly gone into supporting IMU research, I take solace in that, in the hope that it makes someone's life better.
Cheers.
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