This is an interesting idea you have there - that an investment banker may already be loading it up to some degree. The company says they have not engaged with one yet, and that it expects to in April. But maybe if a relationship was imminent then this would be the time they would start loading, or their clients loading, however that works?
Then gets you thinking maybe any investment bankers they talked to, accepted or not, if maybe they saw something in the company and are interested whether engaged or not?
Now if there was major loading, you would think the price would show it, but the more people that get shook loose the more shares attained at lower prices. Interesting theory, especially if you believe that once the investment banker is set and the push to $2+ might happen in earnest then. Basically, if so, now being the last chance to scare out some loose hands, as to assume once the listing process looks imminent the chance to scare people down to a price anywhere close to this could seem unlikely.
Talking about feeding here, maybe some of this is food for thought. Interesting.