Originally Posted by Skippy along
Hopefully an over reaction to the news at least its not like astra zenca but em I'd say buckle up it's going to a bumpy afternoon for us
Indeed the complaint is over their propietary device they use to adminster their vaccines, this device has been used and approved by the FDA for multiple previous trials by INO and the DOD bought $70 million worth of them a few months back so this hold up is a red herring
INO has recovered some bit, which tells me it was an epic head fake by Wall St with a little help from some friends in the FDA , all to cover their mega short exposure. The drop hasnt held , theres a floor holding strong.
But this issue could still take 30 days or more to resolve.
Welcome to the wild west of bio-pharma investing .
Kicking myself over Jfrog (Artifactory) FROG (up 10% today), when we had SUMO, FROG, Unity and SNOWFLAKE all IPO'ing a few weeks back, FROG was the pick of the bunch, good product, good companies using it and breaking even which is unheard of for a cloud devops play these days, but the IPO price was too rich I thought, I expected a pull back to jump in and hold for 6 months, but that hasnt happened.
U-SUMO-FROG-SNOW - combined losses over 1 billion , never made a profit (open to correction) combined valuation over 100 billion.
Morale of the story if you think a tech stock is over-priced for their balance sheet.. Wall St says think again