Blackkkkkk concept stocks quite often sell off when they reach the revenue stage of their business cycle. This is because the market has already discounted an aggressive revenue target. And quite often the reality is that revenue growth is slower & more expensive than what the company had flagged.
It is not an easy task to accurately budget for any operational company let alone a start up, even tougher when your CEO is a promoter / scientist with no background in growing a business from $0 direct sales to over $200 million. At this stage I am hanging onto my valuation of $2.47 for the Ryoncil approval but I am nervously waiting for a genuine sales update.
As discussed earlier GG is no longer a free bird to buy when he wants & that does not help the share price. If the company doesn't deliver on Ryoncil sales let us hope they can deliver on another corporate initiative which will redirect the market's focus back to the company's Blue Sky opportunities.
MSB Price at posting:
$2.22 Sentiment: Buy Disclosure: Held
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