Avid Bioservices Inc (CDMO)

[djohn]

I think shorting of a stock happens because hedge funds know they can manipulate the SP in a way they can make money. IMO this happens because of weak management. In Avid's case these funds think Avid is weak and can't achieve their revenue goal of $400 mil annually. This is mainly because the inability to sell the new capacity. This is because of a non-preforming sales and marketing team! Let's look at the numbers.
MK our CCO was hired Oct 2021
The FY2021 before MK's hire we had new business of $148mil
https://ir.avidbio.com/news-releases/news-release-details/avid-bioservices-reports-financial-results-fourth-quarter-and-0
After his hire he hired 4 new sales reps, 2 new marketing people and 1 new marketing conference person.
Now tree years later FY2024 so far new business is Q1 $36mill, Q2 $35mill, Q3 $41mil, Q4 ???(we'll find out in a few weeks) Total $112mill
So, we have to do $36mil in FY2024 Q4 just to match what we did 3 years ago. With 8 new people most have been working for Avid over a year and a half. What have they been doing????
From a sales prospective that's complete failure of the CCO and the sales team!!!