I too am not a Zeibell fan, as I believe he is way way too much on the defensive side(not to mention his connection to the old crew). He showed his character by returning the $4 million in Federal funds that the government gave them during the Covid crisis....every other company I am aware of kept the funds as this was purely a government giveaway....when the government giveth, you receive with thanks not return the funds!!! Plus we(Avid) qualified under the government program...I never understood that, and I emailed him to ask for an explanation but he never responded(I believe he used the term...out of an abundance of caution).
However that is all history and Avid may have turned tact with their announcement or proclamation that they were not at all affected by the SVB shutting down. Finally it seems they are going to start promoting Avid as a growth and profit CDMO and not just another underfunded profitless small cap in the Biotech sector. It is about time they start aggressively promoting themselves!
A solid CC(which I expect) and we may have a very quick recovery in the share price. Those who bought Friday may have themselves a very nice trade and a solid little profit on these shares.
We will see!
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