The market got it wrong when it came to avita
It was recovering until the asx tanked in June while it was sitting on support levels which pushed it down a leg
Just unlucky I suppose & bad timing
As a result many shareholders jumped to other stocks (but those that did ended up buying stocks that already gained & some have since gone backwards)
The first covid update, the market assumed that sales stalled (statement said that April was a bad month but may/June recovered)
I think I was the only person that was disagreeing with the market
But as we saw July was a record
Redomicile to USA didn't help, Australians like to invest in Australian companies, this didn't help
Conversion from penny stock pricing to multiple dollars didn't help either
Director selling shares gives investors bad impression (although his shares are his main source of income)
Once the negativity took hold, many started selling & even posted here that they were taking losses to do so
However, looking at the last covid update & results from the 26th August, we can see that avita is now having a run & trying to get back its losses
I took this screenshot before yesterday's trading day
Between June & September the asx has gone backwards & put pressure on underperforming stocks
Performing stocks were overbought & some are being sold down
Avita is now correcting while other stocks are being rerated
You can decide for yourself when is a good entry price & if avita is worth investing in
They had plans for 2020 to get into nearly all burn centers in the USA (just past halfway now)
Natural organic growth will happen without any news
As quarterly sales grow so will the share price
How fast it grows from here will depend on how good any potential news is
People are waiting on Japan, vitiligo, recell 2.0, other major news etc
Many shareholders are still annoyed because it hasn't returned to pre covid pricing
It will one day, just needs time
How long? I have no idea
But it looks like it will get back to June pricing very soon
(20min delay)