The share price was pumped to unrealistic expectations. It was valued at $700-800m only 10 months ago. People expected a rapid rise in revenue and cash. As time went on, it became evident that expectation didn't meet valuation, hence the downfall. When a share price is in freefall, the only thing that can turn it around is some positive news, which the last quarterly didn't provide. The market always overshoots itself in both directions and fundamentals take a back seat. 1PG has experienced both sides of it IMO.
People who say it's going broke, etc are very naive. Even if it only signed $760k in new bookings every quarter from here on out and kept costs to US$3m per quarter, it would break even at the start of 2020 and still have $21m in cash. The company has 3 years left in cash assuming absolutely no revenue/cash whatsoever.
Add to My Watchlist
What is My Watchlist?