Ann: Race Board and Management Team Changes, page-326

I'm pretty sure it was all the strategy. As soon as i opened it and saw things stretching out until 2028 and no partnership or other deal to fund it I thought to myself "this may not be received too well". Sure enough the stock was dumped pretty much from open and I think the selling just fed on itself the next few days.

I think there were high expectations around the strategy, particularly a path to commercialisation and/or deal/buy out etc. and it unfortunately didn't deliver that. Maybe the bare bones were there, but there were too many missing pieces, which makes me question why it was released when it was.

Having said that, I'm sure Dr T's "none" sentiment didn't do much to help matters, but I think anyone following Dr T wouldn't be expecting him to sell in any case regardless of the strategy and wouldn't sell themselves as a result of seeing a "none" sentiment from him. It was more a matter of waiting to see what he would do (i.e. activism of some kind). Though the end result of that was definitely unexpected.