CryoPort Inc (CYRX)

[robertmaxwell]

It seems you're all forgetting an incredibly important (debatably the most important) component: the broad market.

Circling back to my point(s) about high forward P/S multiples, broad market sell-offs will seriously drive a screw into what the market's going to be willing to pay for this thing -- regardless of the built-in "replacement cost".

Sure, I understand Cryoport isn't indexed and thus isn't subjected to indexing flows, but it's by no means agnostic to markets as a whole.

Regarding EoQ rebalancing: Yes, I agree that there's a bit of rebalancing going on in the name. As was stated, performance has been good in Q1, and thus you'd expect a bit of selling into quarter end. That said, it's irresponsible to assign any meaningful percentage of a 17+% sell-off to rebalancing.

This will quickly go back to $4.00-5.00 if you have a sustained equity market sell-off. Institutions won't care about the replacement cost. You'll have RV guys coming in and smashing your multiples down to Earth. If that happens, this thing will need to turn profitable quickly in order to resume trading higher.

Just my personal thoughts. Not necessarily representative of my firm's.