RE:RE:PERSONAL PROJECTIONSCanopt still has a 7 billion dollar market cap right now at these levels. For a company that makes zero in profit had reclining sales revenue that is a stupid valuation. The money that they raised will be gone by 2021 then what? How can this company sustain a 400 million dollar burn rate? They are burning cash faster than infrastructure companies and trying to make that up by selling a $7 product.
Other than a short cover I don't see any reason why this would have a recovery right now.
Very short term bounce? Possibly that is a risky bet. My advice would be to take your money and put it into cash or go very high quality companies right now. The market is at an all time high and this is tanking what happens with poor market conditions? Tax loss selling? The only value in this company is the cash they hold and that is burning up in flames. I'd put a very small chance on Constellation buying the rest of the company just to take it out of the spotlight so it stops making them look so stupid. That may be the salvation here but who can predict that? only insiders.
You may be able to time the dead cat bounce to get out but it may just go up in smoke while you try. Firing Bruce was the worst thing they could have done. They killed the dream and that's all that is here right now. They need a profit (net profit) of close to 500 million dollars to justify the current today market cap.