RIBT had many spikes last year and it settled above a dollar for few months on positive comments from management about business prospects.
Management even said that there wouldn't be a need to raise cash as the RIBT was close to profitability. But then the supply chain issue unexpectedly hit the markets, small caps sold off and RIBT broke 1. A few weeks after saying at the earnings conf call that they didn't need to raise cash they sold shares at 65cents and stunned the market. Which led to a year end tax loss selloff, also precipitated by the weak markets for small caps since November.
Let's see if management if able to deliver and get the stock above a buck. They seemed confident at the last call that the stock would get organically above one without the need for a RS, based on what they think will be better quarters going forward.
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