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Checking in after exiting my position early last month. Frustration with management, and by extension, the board of directors, seems to be growing. After almost 9 years, it’s the same story…lack of communication and one missed self imposed deadline after another. I love the technology and would love to get back in. However, until something changes with respect to management/Chan, it just doesn’t make sense. I genuinely wish every long term investor all the best.
@fantomphan, got completely out of CTSO a few weeks back after 8 long years. I did well…tripled my initial investment, but not without a lot of heartburn. And, I could’ve done much better had I invested in many other, safer stocks, such as Apple, Amazon, etc. I wish CTSO and all shareholders nothing but the best, however it just wasn’t the right investment fit for me anymore. I found myself complaining about management, and that was worrying about something that was out of my control. If you find yourself feeling that way, it’s time to move on….you can find your money and yourself a happier home. Since selling and reinvesting those funds in other stocks, my frustration level has virtually disappeared and I have never been happier.
Share price seems to lack any conviction. Upward moves struggle to hold, and quickly sell off.
They can’t give the filter away. IMO, if Chan & Co were replaced, the share price would see a pop.
Agreed. I will be voting him out! Won’t happen, however maybe with enough noise it will wake the board up. What a turd this thing is.
Par for the course with this Mickey Mouse management team.
Hate to say it, but nope!
Couldn’t agree more. Even if early investors make 5x on their investment, it still took way too long. If I had invested the money in apple back in ‘13 when I invested in CTSO, I would’ve made way more with way less risk. Facts are facts....and apple is just one example, there are many more. Chan and the mgmt team are in over their heads.
If you were paying attention, I sold most of my shares. I still hold a smaller 30k share position. Makes this move down a little more bearable, but I prefer they get things right and shoot upward.
Deja Vu....slow walk down to the low $7’s. Then a HF issues a BS hit piece like last time and viola, we’re in the low $5’s overnight. It’s complete BS. What’s worse, is the amount of time it takes to dig ourselves out of the hole to a respectable share price. Management takes care of the slow walk down, and the HF handle the hatchet job. Actually works out great for management, the lower the SP the more options and restricted stock they get....it’s brilliant, really!
Is it me, or is it odd how low volume has been the past few trading sessions? It’s as though everyone is hunkered down in their positions and waiting for something to happen.
Yesterday was 3/19, triple witching. I suspect it was funds rebalancing.
My love affair with CTSO has almost completely faded after 8 long years. I still hold a MUCH smaller position, which makes days like this much easier to deal with. I used to advocate on managements behalf, however they really do make silly mistakes that shouldn’t happen at this level. Missing self imposed deadlines and speaking in absolutes are rookie mistakes for a management team of a publicly traded company. I maintain a position because I do believe in the technology, and the off chance they achieve success in spite of themselves. I imagine a lot of early investors have trimmed a majority of their positions...unfortunately.
Dr E gave a good explanation during one of the previous Q calls. He said something along the lines of one being a seatbelt, while the other is the air bag. There’s a place for both and they aren’t in direct competition with one another. Hopefully someone else can elaborate more on this...it’s been a while.
Hate to say it, but based on price action the past few trading sessions, tomorrow’s ER is going to be a shit show. There will likely be sales growth, however it always seems to be incremental and disappointing to the investment community.
I don’t think so...no need. I just think it’s investors that are fed up and bailing. I dumped 40k shares between yesterday and today....have 30k more to go. After 8 years, I’ve made some money...not as much as I could have, however I just don’t have the stomach for CTSO anymore. Some may disagree, but I don’t think the current management is right for this stage in the game. They are extremely talented and have gotten the company here....it’s now time for a seasoned CEO to take the helm that can leverage experience, relationships, and provide the validation they need to take them to the big leagues. I sincerely wish everyone and the company all the best. Just no longer a good fit for me.
I sold a block of 10k shares this afternoon at $9.25. Trying to sell remaining but difficult to sell with such low volume. I love the company and technology, but I can’t risk this going back down to $3....ridden this from $15 to $3 twice. Not risking that again.....unfortunately for me I have multiples more to sell....shame on me for taking such a large position. Well, large for me....I’m sure other have more.
Are the handful of us on this site the only ones that know about CTSO and believe in the product. Why is there so little interest in the stock...market cap has dropped $100M (20%) in less than 2 weeks. What do we have to do to catch a break?
Earnings were NOT announced. The only thing they pre-announced were quarterly top line revenues. If there were a material event, would be required to announce it. Given all the potential catalysts, I hopeful the shareholder letter delay will be due to positive news. Just my two cents.
CEO’s answer emails regularly. That said, they are very careful not to disclose any material information.
Nice comeback at the close!!
He said it in the press release when they pre-announced the quarterly revenue numbers. He stated they will be issuing a shareholder letter later this month (January). Here’s the quote...
Dr. Phillip Chan, Chief Executive Officer of CytoSorbents stated, "Our record financial performance in 2020 reflects the underlying strength of our core businesses in critical care and cardiac surgery, aided by broad-based demand for CytoSorb as a powerful therapy to treat cytokine storm and hyperinflammation in mechanically ventilated COVID-19 patients. By leveraging our existing businesses, with new opportunities such as liver disease and the removal of blood thinners in cardiothoracic surgery, we believe 2021 will be another year of strong growth. We plan to provide more detail on the year ahead in a stockholder's letter later this month."
No idea, Ranch. However, the volume and SP increase yesterday certainly implies something positive is happening. Exciting turn of events...glta!!
The content, is the content. Chan said he would release a shareholder letter this month....HE NEEDS TO DO IT. otherwise, it’s another missed self imposed deadline , and underscores why the market does not take him seriously. Unfortunately, it also means the market doesn’t take CTSO seriously, by extension. These are ROOKIE mistakes being made over and over again.
Last business day of the month...hope Chan & Co follow through on their commitment to deliver a shareholder letter by the end of the month. Otherwise, he did hasn’t learned a thing and did it to us again.
EXACTLY!
Starting to believe this company will NEVER catch a break.
Another option, and I hope this isn’t the case, but insiders have info that FDA guidance will take longer than anticipated, or REMOVE data isn’t as positive as we hoped. Again, let’s hope that isn’t the case. I want this thing to rocket so I can lock in my gains and move on...been here waaayyyy too long to weather anymore BS.
Pretty sure it’s reacting to no news or investor letter.
Great volume today...almost 800k share traded hands.
Haha, agreed!
Not sure even full FDA approval would have a sustainable price increase. I’m shocked how this company simply cannot grow share price. Depressing really.
This thing is trading as though there will be more hurdles with respect to the FDA and REMOVE. If history is any indication, news will be less than impressive....always is with this company.
Agreed! The absolute lack of performance by the management team is unbelievable. It all starts at the top! Their lack of experience shows in virtually everything they do. They set expectations for timelines that are out of their control, promise operating profitability and then blame a change in business direction when they fail. Just poor execution all around. Get your shit together man....you’re running a publicly traded company for gods sake. If the task is too much for you, then do the right thing and step aside so someone with the right skill set can assume the role. So frustrating after all these years!
Damn, someone is dumping! This turd is down almost 15% from the high a few days ago. Like others have noted, no interest due to lack of delivering on goals....no one cares anymore.
YIKES! Looks like someone’s had enough and decided it was time to get out. Way to start the morning....hopefully it isn’t an omen for what’s to come.
Makes sense...thanks.
How long have you owned CTSO? Been here 8 years so confidence is shaken. If you don’t me asking, what makes you so confident we’ll be ok? I want nothing more then for this to take off. Ive pared my position down this year, however my current position is still fairly sizable.
Well, the market has spoken....we pretty much own an $8 stock. Without FDA approval this thang ain’t going anywhere.
Yep, management tends to over promise and under deliver. THEY bring it on themselves by setting timelines that are usually out of their control. It’s like the saying ‘Shit rolls downhill’...this shit show with regards to share price starts at the top with management, sorry to say. Great product/technology, it appears anyway, but shitty execution running the business.