Crucial DistinctionI don’t think it is quite accurate to say that IFR is following the same seasonal pattern. Last year, there was a price high almost exactly one year ago at 2.62 (intraday). This was in anticipation of results that, presumably, were shown to have been somewhat disappointing, and the price began its precipitous plunge.
This year, it is precisely the opposite pattern, when the market hit a low in early March at 1.20 (intraday). The market, looking back on last year’s experience, has already discounted, into the price of the stock, the failure of the two wells being drilled. Their success will therefore bring a swift and sudden upward adjustment in market price.
For reference points, a link to the trading chart is attached below
https://www.stockwatch.com/swnet/charts/charts_histproc.aspx?symbol=IFR®ion=C