Yes, there are companies with larger market caps whose stock is in the billions despite having only Phase 1 and Phase 2 trials. Lots of things in life are overvalued.
Looking at market cap without any revenue is a trader's game, not an investor's. In the long run, the market will determine once and for all Anavex's value. Lot of people believe it should be in the billions, and there are just as many naysayers who believe it's a worthless company. In another few years one side will be proven correct.
So far the evidence for Anavex looks promising. But anyone who at this stage says its a sure thing, and the only reason the stock price is so low is because of outside nefarious forces, isn't being honest and probably has his or her own motives and agenda. Aside from a lone Twitter account the other month, I haven't seen a single hit piece in years. Where's the evidence that a cabal exists as opposed to the stock action being the result of profit-taking and moving money to more imminent opportunities?
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