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Thanks, jugs. Seeing a lot more "traders" than "investors" these days. There is a time and place for both, but when the line between the two becomes blurred the quality of information on here degrades and you see very few second level thinking about the business itself.
Looks like a lot of action on here lately with the way the stock has been trading. Those who've been invested for a long time will tell you that there have been other periods where Avita has gotten absolutely crushed. At the end of the day, Avita is a business and those "invested" in the business must realize this and understand that when the market goes south Avita takes some body blows. Deserved or not, Avita will continue to see its share price fall alongside the market due to profit taking, institutional selling, and retail investors rushing for the exits. I've held through a > 50% drawdown back when the story was much less clear for the company. Sell the stock if you want, but this selling we are seeing is not fundamentals driven at all.
Can anyone give me a brief rundown on why we've seen the stock fall nearly 30% over the last 9 or so trading days? I haven't been able to follow the stock as closely as I would have liked recently, and the only negative catalyst I can identify is the institutional placement (which had the effect that I thought it would have). Since that initial hit to the price, it has continued to plunge even though there hasn't really been anything notable that should be moving the needle. Did I miss anything? I rode out a nearly 50% drawdown back in the market correction last year around this time but I knew why back then. Now, I just don't know. Thank you all in advance for any help and I apologize for being more ignorant right now than I usually am.
What have AVMXF holders done? Personally, I sold mine and took the profit. Not proud to admit that I started the sell-off this morning, but when zero shares had exchanged hands about 15 minutes after open I decided that I didn't want to risk holding something that soon might be completely illiquid. Still have a boatload of RCEL with a very enjoyable cost basis.
US is poised for another strong day. Shares on the ASX closed up 4.24% (0.615 AUD). This translates into an implied share price of $8.40 USD per share of AVMXY. I've been gone awhile but I am still fully loaded and looking forward to what the next few months have in store.
Likewise! I'd imagine that getting some human interest story on the news that showed the results of the product would lead to a tremendous increase in volume. I don't think that it would be frowned upon to achieve such an outcome, would it?
Jugs, agree with you on that take. I've been absent from the board for almost a couple months now, but the current lull is nothing to be concerned about. There was irrational exuberance in the wake of the ABA conference, but the long term prospects of the company have not changed at all. I don't think we'll see another significant pop until there is news of an uplist to the NASDAQ or FDA approval for pediatric use. What is your thinking?
Full Financials for Avita. I'm looking forward to the 30th. https://drive.google.com/file/d/15fHvB27H-vc2mUPlyFTXIIAayveSz2nT/view?usp=sharing
Arbitrage opportunity with AVMXF shares. All, I believe that I might have mentioned this before, but there is a real opportunity to make money off the AVMXF shares. They are often "mispriced" and do not always move in sync with the AVH shares and AVMXY ADR shares. Just wanted to give some of the new guys a heads up.
For example, AVMXF if up 3.95% today while AVMXY is down 1.44%
AVMXF shares are highly illiquid though, so don't do anything you are unsure of.
Thanks, pete! I'm not even halfway done college yet, and I want to make a career out of investing, so it's good to hear that I'm thinking straight. My AVMXY are still sitting there nice and untouched, just like I want them.
I'm a longtime holder and I don't think it was a bad idea. Monday's meteoric rise was not the result of any fundamental changes in the company's value. It was primed for a correction and you just took advantage of what was essentially free money. I shorted AVMXF, made my money, and then bought a block of shares at what I deemed a fair value.
Looks like it will have bottomed out at .335 on the ASX (-30%). Currently it's down 28.2% for the day on the ASX. I agree with tdeck, I was more comfortable when it was trading more normally. The current environment has stirred me to consider locking in a nice profit and then accumulating some more shares.
Price action so far a result of shorts or just an amplified reaction to what we're seeing across the market?
Anyone have the most recent Lake Street CM report?
Currently at 3.05M
Deck, if my calculations are correct, you've made a cool $1M on this puppy now. Congratulations!
Perfect song for today.
Avita might allow me to get a Tesla as my first set of wheels. Hope you fellas are enjoying today! Great weather here on the East Coast, and a 40% gain for my largest holding--doesn't get any better than that.
Trading at 0.295 (maybe 0.293 as of the post) on the ASX. Basically, $4.20 a share in USD after conversions and adjusting for them being ADRs
This is what I posted about last week haha
Closed on the ASX at AUD $0.285 which, converted to USD and multiplied by 20, is $4.10.
I believe that there might be some arbitrage opportunities considering that AVH, AVMXF, and AVMXY aren't trading at an equivalent price. Honestly though, Avita is the perfect buy and hold.
Good day today fellas. There isn't any sort of derivatives market for Avita is there? I tried making a market a couple months back but they are way too small to get anything done.
pete, not to be a hardass, but it is Dr. Fiona Wood, not "Woods." I've seen a few posters refer to her as "Woods" when her name is "Wood." Carry on lol
Reddit thread on Avita: https://www.reddit.com/r/stocks/comments/b2qfsv/avita_medical_dedicated_discussion_thread/
A redditor wanted me to share it here.
I am! I saw a post about Avita prior to FDA approval and did research for a few weeks before buying. I even called the CFO and talked with the only analyst in North America that covers the stock. I think they probably thought I was a professional investor until I told them my age haha
You all should consider yourselves lucky! In my opinion, Avita is one of those investments that you find maybe two or three times in an investing career. I'm pretty sure that I'm at least half the age of most posters on this board, so I've had a lot less capital to invest. I'm jealous of you guys haha
What do you guys think would happen to the price if we see some large blocks of institutional buying?
Our friend Tdeck has seen his initial buy ($0.73) increase by more than 450%. You could've been more than rich if you put enough on it haha
I was drawndown nearly 50% no more than 3 months ago. Perseverance and patience pay off. Many were jumping ship back then.
I'm seeing a B/A of 3.84/4.03 right now. Make sure you're buckled up today amigos.
Deck, do you trade AVMXF at all? All of my shares are currently in the form of AVMXY but I'm considering dabbling with AVMXF or AVH.
AVH on the ASX closed at $AUD 0.265, right? That converts to $USD 0.19 which is actually above AVMXF.
No. Likely to see a nearly 20% jump today. ASX shares went up a good amount. Long term outlook is still very positive.
Deck, great stuff! I agree about it just scratching the surface right now, but I'll take it a step further. I've spoken with a number of associates from SE Asia and they believe that the market for ReCell being used for cosmetic surgery purposes would be significant in size. But alas, some fellows will say that tilapia skins can cure/treat burns just as well as this "overly expensive form of treatment."
Did the math and T must have made at least $440K on Avita so far. My calculations have your average cost at $1.11/share (I erred on the high side for all orders with a range) and that would put your total return at 218%! That's a hell of a return so far!
What happened between 10/11/2018 and 10/31/2018 with NDRA?
T, the people I suggested Avita to long ago are now coming back out of the woodwork. Maybe they shouldn't have jumped ship after the the mini-peak we saw after FDA approval. Everyone wants in on Avita now. The future is bright.
You can't just purchase on TD Ameritrade or Schwab?
I'm a very passive investor. I like to buy and hold. Plus, I just purchased another big block of shares at 2.76 so I wasn't planning on any buying today.
Deck, I decided to sleep in today and was more than pleased to see a +25% right when I woke up.