Innovation Pharmaceuticals Inc (IPIX)

[noretreat]

My guess is that the shorting started near 3.50, and is the reason for the continuous low volume price drop to 2.50 just before the article appeared. The original shorters likely covered late Thursday and Friday, even while encouraging more shorting with negative posts and comments. There are several different types of bag holders in a swindle like this. Certainly anyone selling late Thursday or early Friday. But those who continued to short below $2, even below $2.50, are likely in a heap of trouble.

In my view the loss in market cap is closer to $150 million to date. I figure the original short "cabal" made 3 or 4 million bucks in a couple weeks. All that was needed was a hack article and some coordinated trading. If the article gets pulled it does not matter to them.

Monday's action will be interesting.