Sorrento made headlines in May of 2020 when founder Dr. Henry Ji claimed that the company discovered a cure to COVID-19, which caused its stock to soar 243% in a single day. This took the company's market cap from millions to well over a billion.
"We want to emphasize there is a cure. There is a solution that works 100 percent," Ji told Fox News, a statement that was refuted by health care experts. "If we have the neutralizing antibody in your body, you don't need the social distancing. You can open up a society without fear."
Have some more koolaid, while you look at that portfolio.
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