Q: Any thoughts re why the stock jumped 18 percent yesterday? Would you consider the stock a buy, sell or hold? Thanks
5i Research Answer:
IBAT has had no news in nearly a month. Small cap stocks ($158M) with large embedded losses (-68% in a year) can see some unusual trading in the latter parts of the year. Short covering could be occurring, or speculators taking positions for a typical January bounce. With possible tax-loss selling still, no revenue, losses and negative cash flow, and not much cash, we would still be cautious towards it and would consider it more of a sell.