Looks like the sell off is going to continue. Every day l try and rationalize whats going on, hence the earlier theory of investor A starting the avalanche and group think that blindly follows. In some of the stocks l have invested in previously, there were chartists that talked about price points of support. Do we have any here that want to contribute?. My view is that this is much more than end of year sell off. l think a portion of investors think that PIQ has no hope of announcing anything positive by June 30. Further to this, investors what to know when this Company is going to be cash flow positive. 20 years in the making but still not turning a profit. Thats the crux l think. People just fed up with all sorts of appointments and distribution deals but stuff all sales. Are we on the verge of cracking the big time or is it 5 or more years away? I genuinely believe investors are spooked and selling down because they cannot see any light at the end of the tunnel,; certainly no time line is offered by PIQ management. They are happy to sit silent while 30 percent of the net value of the Company is eroded.
l also think that if and when FDA rebate code is approved, it will make very little difference to the prevailing SP. What will make a huge exponential difference is a distribution deal with big Pharma. Only because this is a clear road to money where currently we have none. The board being silent on this is less than encouraging because rightly or wrongly, it sends the message they have no idea. On idea in an up and coming hopeful is not a good look. This is my take on the current sell off.
PIQ Price at posting:
93.5¢ Sentiment: Hold Disclosure: Held
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