My wife and I own quite a few shares of IMH. Some we have owned from the old days before the reverse 1 for 10 split and we have added thousands more after the split. I owned shares before the real estate bubble burst and remember a few quarters when the divvy was 75 cents per share ($7.50 equivalent now) and the share price in the twenties ( equivalent to over $200 now ) So at $15 per share now, they still only cost $1.50 pre split and management is working hard to bring our company back to the old glory days. Also I don't think I ever want to see IMH taxed as a reit again. Now it needs money to grow and with $500 million in federal and $400 million in state credits to utilize against earnings we can expect healthy retained earnings. At the present low interest rate environment a company such as ours, growing fast, clearing up lawsuits, showing healthy earnings, will be able to secure the necessary funds to continue this path of rapid growth without resorting to doing a secondary. Investors will be rewarded. In time the dividends will start again, but lets grow the company first.
It looks like a lot of insiders are buying up the shares. I have never seen any stock go up so fast in such a short period of time unless they know something that we don't. Just pure speculation on my part.