ARTX - T4$ - I've been following this company for the past couple of years. Great prospects and products. Terrible financial management. They kill every rally with PPs, options, insider sales, etc. I thought this time might be different and bought in at $1.10, sold out yesterday for break even and will go back to watch mode.
The latest share price killer is from acquisition of FACC. These shares will be an overhang of about 8.2 million shares that WILL BE SOLD until they get 7.4 million $. This works out to an average of about .90 a share which I think will provide a support level. In essence, the people selling the shares have an incentive to have the stock around .90 to get the maximum number of shares. Almost like a toxic financing. Any "unused" shares will be returned to the company.
Management treats themselves very well despite the stock performance. Last I checked the CEO gets about 1/2 million bucks.
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