Replies to post #383 on Sharps Technology Inc (STSS)

[Prudent Capitalist]

Shorts are caught with their pants down this am.

Sharps Technology Begins First Shipments of Smart Safety Syringes For 3 Client Orders; Shares Up Pre-Bell

08:23:59 AM ET, 06/04/2025 - MT Newswires

08:23 AM EDT, 06/04/2025 (MT Newswires) -- Sharps Technology (STSS) said Wednesday it has initiated first shipments of its SecureGard and SoloGard smart safety syringes relating to three client orders from its manufacturing site in Hungary.

The company began shipment of its first commercial order of Sologard to a US-based IV flushing services provider under a previously announced $50 million agreement, while it has also delivered SecureGard syringes to a Hungarian vaccine provider after securing a $100,000 purchase order, Sharps said.

The total purchase commitments reached roughly $500,000 with the two orders, the company said.

The medical device and pharmaceutical packaging company also said it started a 200,000-unit shipment of 1mL low dead-volume syringes to a Switzerland-based global provider of cosmetic, dental, and ophthalmic injectable therapies.

Shares were up more than 53% in recent premarket activity.

[Prudent Capitalist]

Crazy share price action again today here (+31.3%). Just completed my 3d round trip flip for avg. gains per flip of $1.50 per share since the crazy 1-for-300 reverse split. Even wackier is the 52-week trading range for STSS of $3.39 - $2,164.52. But I am likely done with this circus, given the Board's ridiculous proxy item requesting an increase in the authorized shares from 1.167 million currently, with only 1.02 million shares outstanding post-RS, to 500,000.000 authorized shares which equates with 150 billion shares pre-RS. That is indefensible, and one must wonder what they intend to do if and when that passes.

[Prudent Capitalist]

So, I flipped out too soon the 3d time. + 56% today on a $400 million PP to go into Solana. Go figure. Still the increase in authorized shares is not a good omen long term.