Don't rush to judgement based on one factoid alone and the heady confidence that comes with being up on paper by 100 percent. Been there done that. I was up 102 percent on my basis back in late July. It went to below basis when the CEO resigned and I thought that was good news that corporate governance was preparing them for uplisting. However, I ended up selling down 52 percent because a surprise happened on day two of the new CEO's employment - they announced a 4 year pushback of the timeline for commercialization of the biopolymer scaffold, their first flagship product.
At this point, we have the CEO resigning due to mysterious "health reasons", followed by a 4 year pushback of the timeline to become profitable, which affects further dilution down the road, followed by an abrupt termination of the CFO with no explanation whatsoever.
All signs point to something very wrong happened at this company. We don't know exactly what it is, so I'm not gambling with my money that it was ONLY the ex-CEO misleading investors on the timeline and the new CFO buying shares before an investor conference. Those are but two of the numerous possibilities here. Observing the action through my binoculars from a distance, I see two rats leaping into the water one after another, and a gross misleading or underestimate of the scaffold product timeline. In all likelihood there are still more shoes to drop, IMO.
For one thing, the timeline of the remaining pipeline products is surely to be pushed back, and that alone will hammer the stock down further, and that news could come today, tomorrow, next week, or in 2 weeks.
AI
