I would reserved "stuffed this up royally" for doing whatever is required to manipulate the share price higher, have no investors jump onboard with $15 million, then not be able to afford to further develop the product, and then slowly wither away until they run out of cash, and make a late attempt to raise funds but no one take the company seriously anymore.
Seriously, they've successfully funded the next phase of their development. This is not a royal stuff-up, this is commercial progress and part of growing the very infancy stage of a new deep tech business.
Could they have maintained the share price slightly higher, to avoid disappointing investors who purchased above $2? Maybe. Does it matter? Only for swing traders, not to long term investors. Should they care about swing traders sentiments? No. Should their priority be on developing their products? Yes. Will the long term share price be in any way affected by current swing trader sentiments? No.
AXE Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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