I think you are right on the money here. I get the sense there was a difference in views of strategy that created the fuel for the fire, and then all you need is a little spark.
Same thing happened at Paradigm bio which I also hold. The founder there was both the CEO and Chairman. They brought on a CEO and I don’t think he lasted a year before he quit. The founder obviously could not stop meddling.
If the CEO and chairman who owns a big stake in the company are not 100% aligned on strategy, it’s only matter of time before it becomes untenable.
PNV Price at posting:
$1.22 Sentiment: Buy Disclosure: Held
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