Up, up and away my beautiful....stock. It seems clear now MM's and/or someone else is buying up the few shares investors are letting go as several have mentioned. That's why the price on low volume is sneaking up.
Most IMGG investors have been around for a long time and know the story so they are simply not selling. The MM's know the decision day by the FDA is near. The MM's likely expect the completion of the FDA process will be anywhere from yesterday through next week Thursday, the 24th. Hence the drop in volume this week and the big drop in short action. (Reduced trading among MM's)
It was clear to me last week that the decision date is near when I sold 30,000 shares at .375. As I mentioned in an earlier post, I put the order in at 6:33 AM. It finally sold near the market close after having traded in the .345 to .36 range the entire day. There were 60,000 total shares traded at the .375 within a couple minutes. Somebody wanted to get those shares off the table before the weekend. They cleared the decks of the shares offered by someone other than the other MM's.
And this week the volume falls (we're all hanging on to our shares), the short volume falls (the MM's don't want to get stuck holding the bag when they are no longer able to suppress the price).
GTLA. The FDA process will be complete soon. Now we can only hope they approve because all their questions have been answered.
Geez, they just won't let it hit that .40 mark.