Sona Nanotech Inc C.SONA

Alternate Symbol(s): SNANF

Technology Scientific & Technical Instruments

Sona Nanotech Inc. is a nanotechnology life sciences company that has developed multiple methods for the manufacturing of various types of gold nanoparticles. The Company is engaged in the research and development of its technology for use in multiplex diagnostic testing platforms and biomedical applications. Its gold nanotechnologies are adapted for use in applications, as a safe and delivery system for multiple medical treatments, for the approval of various regulatory boards, including Health Canada and the Food and Drug administration (FDA). Its gold nanorod particles are manufactured without the use of CTAB (cetyltrimethylammonium), eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. The Company leverages its core proprietary gold nanorod (GNR) manufacturing technology and laboratory assets to focus on the development of diagnostic tests and biologic reagents, and the advancement of its GNR intellectual property.

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Sona Nanotech Inc > Is this not an overreaction due to impatience?

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Comment by bluebeard123on Aug 06, 2020 7:29pm

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Post# 31376273

RE:RE:Is this not an overreaction due to impatience?

I don't think it's difficult to understand what happened today. The people who sold were the weak ones. As you stated in your post, the nervous tension from the report not being published on Tuesday just kept on building and got the better of them today. Its unbelievable how so many stampeded to the exits because of a benign news release of a 2 week delay to the field study was published around 1pm. It would not surprise me if many of the people who sold off today are new to the stock market. Discount brokers have reported that a record number of new investors have created accounts in the last 5 months. Its a good lesson for them. We have all been through this.

Aarman4 wrote:
mfran91 wrote: Can someone please explain today's movement to me, what happened today doesn't make sense. There were no material changes with the company at all. Obviously any kind of delay or pushout is negative news but does that really warrant a 40% drop especially if it's not due to negligence or underperformance on the part of the company? FDA released new evaluation protocols so Sona has to make adjustments - I do not understand why that would cause a drop so dramatic.

Key thing here is patience now. The fact is they have to most accurate antigen test on the market and have been taking all the right steps to bring it to market. Holding on to my shares and may even look to add more at open, 2 weeks is not a long time to wait at all...

Well, to answer your question, short term stock prices are determined by buyers and sellers, not company performance.

It appears to me that the group that a large amount of those sellers no longer were willing to wait 2 more weeks, or could not read the news report properly(It was worded in VERY POOR language).

Good news can push a stock price up, bad news can push it down, but fear of the unknown will send all but the strongest money running in the other direction. I believe the news was not bad, but it was worded in a way that caused confusion and fear. BUYING OPPORTUNITY!

Cheers!