Yes the sector is weak, but companies that have news flow and cash are not performing as poorly. Biotech Index in the US is up what, 9% in the last 12months...
NTI's SP is weak for three simple reasons... 1. there has been no real news to hold the SP up (it has fallen on reasonably low volume).. and what is the upcoming news could improve the SP?? 2. They need a CR this year (some may disagree, if it is not this year I am only out by a month or so) 3. Anyone who bought in the last 2 years is either in the red or worrying that they will be soon... Tax loss selling is starting early this year.
No news, cash probably runs out before news = low SP. Pretty simple... only IMHO..
I hate to be the big bad bear here as I like the story, just not the outlook for 2023.... 2024 will be a better year... Hopefully so for my oppies!
GLTAH.
NTI Price at posting:
4.5¢ Sentiment: Hold Disclosure: Held
