Avid Bioservices Inc (CDMO)

[westjtter]

Well our timing for a potential breakout couldn't have been worse with the CPI numbers we got today.....so the market is now coming to terms with higher rates for longer(even though the economy is strong) and so of course the Bot algorithm selling is showing itself today. The Dow, Nasdaq and S&P are way down today....but not nearly as much as the Russell 2000!

Any talk of higher rates or even just moving out the date for rate cuts hits the Russell especially hard because according to the computers with their built in programs based on these algorithms, small public companies have difficulty obtaining financing and are therefore much riskier during times of high interest rates.... so you sell them across the board!!!!

Such is the case today!

So today will not be a good day for Avid regardless of our unique position in the CDMO industry with the expansion complete and the company poised for growth! Better days will come for the market and for AVID...we will just have to be patient a little longer...hopefully the upcoming Q results will give us some positive momentum???