Its not an over reaction.4DS will need to raise about 6-8...

Its not an over reaction.

4DS will need to raise about 6-8 quarters again of capital.

That will dilute the SOI to about 2.1 billion. The drop in price reflects this dilution.

And even then, the risk / reward is uncertain. They have said they were highly confident of producing a mb chip in 2022.

Now, its an issue of credibility - as they have failed.

They will have to release at least some of the metrics of the cells - otherwise who in their right mind will give them capital?

Further, they have stated that this issue changes the long term direction of the company. Considering they called the etching issue a three month delay (when we are actually here a year later), who knows how long a long term delay will mean?

The chairman needs to replace David M.