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More big trades going through. Over 2.6m this time. Not checked if there was a previous one today 12.86p.

A further 1.245m trade. Are all these trades reverse trades or someone filling a buy/sell order. All at about 12.89p every times.

They had already announced they were part of the fund raise and have been holders here for a while.

Another big trade. Almost 2.5m shares. Worth 333k.

They looked like sell trades to me but hard to tell. I don't think the seller is done as still below 13p. Reassuring 12.89p is a volume price for trades. Canaccord likely still selling for now.

Still wories me the predicted sales for 2025 are still only £118m with nearly 18m loss. 2026 is not much better with sales only rising 7m.

Only RNS with new business suggested about 0.5m. Unless they have some amazing cost savings here or new sales incoming the losses will remain at over double digits for next 1-3 years.

What is happening with GAN? Is Trump's import taxes messing things up here?

Further 1.89m trade at 12.89. Decent volume today.

Over 2.7m volume over 2 trades.

Feels like a seller in background still. Is this a mark down due to the fund raise or maybe concern about tariffs from Trump?

Down 4-5p from the high. 17p was a good price to sell. This share rarely ever meets the broker price targets.

More likely Canaccord still selling. 5m trade yesterday went through.

Don't forget Canaccord are likely still selling here. Some big late trades here worth 6m or so shares.

The brokers page predicts 118.7m revenue for IQE in 2025. I am guessing one of the brokers updated it's figures in last week. With a loss of 17.96m. 125.22m predicted for 2026 with a loss of £14.05m.

They were predicting £115m for 2024? Why are the brokers so downbeat? Are they losing sales somewhere or are these figures intended to be a low base to build on? What will Gan add to the party? Based on broker figures sales seem pretty flat with double digit losses still.

Not got my head around the loan agreement yet but they will need money if these loss figures are right.

So the old figure.

Lombard Odier Investment Managers 145,587,281 15.05 Now 14.96%

Canaccord Genuity Wealth Management 110,541,761 11.43 Now 9.96%

T Rowe Price Global Investments 81,524,462 8.43 Now 8.22%

Mr Richard Griffiths 68,361,441 7.07 Now 6.3%

Hargreaves Lansdown, stockbrokers 67,628,895 6.99 Now 7.3%

Interactive Investor 54,358,829 5.62 now 6.04%

Janus Henderson Investors 51,224,874 5.30 now 3.93%

Dr Andrew Nelson* 46,266,881 4.78

The big movers are Janus and Cannacord down by over 1%. Richard Griffiths down nearly 0.7%

II up 0.42%. Artisan up at least 1.4%

Dr Nelson has a lot of shares on loan so not sure how these numbers work out.

Https://www.iqep.com/investors/major-shareholders/

Cannacord now below 10%.

Henderson below 4% now.

Artisan Partners 31,802,046 3.29 - New but previously had 1.6% according to the FT.

Hargreaves and II seem higher.

I need to check what the old figures were at some point.

It's possible Canaccord are still selling here.

Https://research-centre.barclays.co.uk/shares/iqe/broker-views/broker-forecast/

They have raised the expected revenue for 2025 by 1m. With losses just under 20M.

7.5m Ebidta is fine but this needs to cover circa 32m admin costs, So that means a 24.5m loss?

Of course if these big orders start to come in that is another matter. So many firms in the UK cutting back costs now.

Gan to the rescue? See if the buys follow tomorrow.

If the loan is swapped at 15p it would suggest this is under valued by 2p. Of course IQE need to match market expectations with numbers and 115m was a very low number to start from.

In the past big rises without news have led to huge falls. So you need some care here.

2025 depends on GAN and sales recovering. Without a further H2 drop in sales from excess supply. Less risk at 12-13p but definitely still risk here. The losses here projected for 2025 and 2026 are still a big worry but I guess the Taiwan sale will help to recoup some losses.

See where 2025 takes IQE. I expect no TU here given they had one in November. 2025 figures should be circa 115m. A closing statement March /April maybe.

My gut is cannacord will continue to sell here. Till that is done 9-11p is the likely area this will stay. IQE are projecting £115m for the year with losses to hit 24m or so. Latest broker report suggested 20p. Historically these broker reports have been over priced.

My main concern as an investor is the lack of new orders and the high level of losses here. They still have 670 or so staff.

Maybe this is the big reset for 2025 and GAN. However this is not the first reset they have had in last few years. The new orders never seem to come.

They employ 670 staff. Have they made any staff cost cutting?

Losing over 20m and given nearly £100k in shares. Hmmm. What does IQE know?

He clearly sees value at 9-12p. IQE said sales had fallen away due to demand. They didn't say the business was done for good. When a fund wants out sometimes directors will mop up stock to stop the SP falling.

Still no idea who bought/sold the 13.95m shares.