10.33M volume spike for IOV.AX Ion Video Ltd (ASX) 29 Jan 2026: liquidity test

IOV.AX stock registered a heavy volume surge on ASX today, trading 10,327,350 shares versus an average of 117,228. The spike pushed intraday range to A$0.002–A$0.003 while the last trade stayed at A$0.003. Volume was roughly 88.10x normal, which signals a liquidity event rather than a steady trend. We examine what moved volume, how fundamentals stack up and what our models show next.