IVN Always was a Strange AnimalIt's currently pulled back slightly from an uptrend. Share price for IVN seems to move independently of news. It was relentlessly pounded down for months to $2 after announcing a 50% increase of high grade resource with copper at $3+ lb. Even PGM's going parabolic only grudgingly moved share price upwards a tad. And now in the midst of a global economic meltdown, where metal prices are headed to the basement, someone actually posts maybe it will take out $3.
My own impression after years of watching this stock is that a few traders control the price action in a thinly traded market, and they move it up or down according to some schedule the rest of us are not privy to. So either you buy in cheap, or try to anticipate what the bigger fish are up to. Momentum with this stock can shift on a dime for no reason whatsoever. This type of action is best suited to pro traders who sit in front of their screen from the open right through to the close, moving in and out of positions as momentum shifts.