Demand for SharesIthaca is now all about creating stock liquidity for MMs and institutions, do bear that in mind. The short 4 month wait (hopefully) to Stella first oil is also creating considerable pressure for investors - remember that the capacity to both be right and to sit tight is not a combination of traits that are easy to apply together.
The MMs and institutions should not despair. Once Ithaca's share price passes $1.50 many private investors will take profits. It is always the same, wait years for the big move and then when it happens vertigo sets in causing early selling. There will be no shortage of buyers for these early sold shares when the time comes, so the price will march on.
Focus on the forward earnings multiple while keeping an objective eye on the strength of the balance sheet, never look down to where the SP has come from, it has little influence over where the SP will end up.
Doug