IVG.AX down 27% pre-market on ASX: implications and near-term outlook
IVG.AX stock opened the ASX pre-market session under heavy selling, trading at A$0.021 after a -27.59% drop on increased volume. The fall leaves Ingraphite Fpo (IVG.AX) near its year low of A$0.021 and below its 50-day average of A$0.02982. We see this move as a liquidity-driven sell-off rather than an earnings shock, because no earnings release is scheduled. Volume at 387,364 shares is 1.48x average, so short-term traders should expect higher volatility in AUD on the ASX.
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