RE:Deepoil0808 Yes was right but then stepped into wrong sideAppreciate your response Sarb.
I did not switch sides. I was a long and I sold my position, almost at cost, because I did not like the 1 for 15 reverse stock split.
I knew there was a possiblity that it would rally but I was no longer comfortable holding it because the 1 for 15 reverse split announced in November 2021 signals to me a slowdown in revenue, a loss from operations and, a need for cash.
I was not wrong on this either as they have $ 25 million in receivables (not collected) but owe $ 20,500,000 in payables where are due. We do not know if all the receivables will be collectible, that is a big unknown.
Also restrictions on covid19 will be lifted around the world in early 2022 and testing will be severely reduced due to this. Biden lost his appeal on mandates in Texas, Florida next and, 18 other states.
In Isreal it is 2 days in a row with no deaths.
MEDV has not pivoted into the telehealth market and are materially dependent on testing and for that to happen covid19 needs to continue and, it will not. I am not an expert on this but Pfizer is. So if the world leader in vaccinations is saying that pandemic ends January 4th, it ends on that day as they control most of the market.
Without a sustainable business model, one finds themselves investing in a dying business.
I expect MATERIAL DECLINE in revenue this quarter and, a huge loss.
Take it for what it is, my opinion.
PS: I am not shorting it either as I never employ that strategy. I buy for the longer term and for me the 1 for 15
reverse stock split was the language that convinced me to sell. Think of it another way, if they were going
to have another profitable quarter there would be no 1 for 15 reverse stock split. But there is.
I post for ENTERTAINMENT PURPOSES only and, I presume that this is legal to do.
I invested my funds elsewhere, where the future looks bright and revenues / profits are going to ramp up.
My personal opinion,