Innovation Pharmaceuticals Inc (IPIX)

[noretreat]

Assuming not much churn at this price and the relatively tight range, about 3% of all outstanding shares are now owned at close to $3. And that is something like 10% of the float. Add to that a similar number owned above $2.50, and the importance of the recent higher volume begins to come into focus. A good chunk of the float is not looking to trade out at this price, including all the long-term longs and most of the recent entries.

Next March, there will be an Aruda wildcard in the mix (will he sell?), but there are multiple catalysts to come first.