Avid Bioservices Inc (CDMO)

[eastcoastguy]

I don't think WS thinks our numbers are amiss. The whole market has been inflated and the air is coming out of it. That's how bear markets go. Eventually markets revert to the mean. CDMO at a P/E over 82 is taking it on the chin like all the high PE stocks. The good news is CDMO reports GAAP earnings which are real profits as opposed to non-GAAP earnings like much of the tech world. That's why the biotech and story stocks have been creamed. CDMO will reduce their PE by increasing earnings. In looking at the 3year/weekly chart CDMO is sitting on very solid support right above the 200wma. I could see a dip below it but not much. The world has a lot of problems but it will always need what Avid produces!

hang in everyone,
eastcoastguy