What is going wrong for XORTX? While XORTX Therapeutics has achieved several major milestones lately, including a 1 for 11 share consolidation, a listing in one of the world's most recognized stock exchanges like NASDAQ, and good findings from recent clinical trials, the company is getting disproportionately punished as its share price lost nearly 50% of its market value in less than a week?
Due to these recent string of good news, XORTX should be properly rewarded for the positive news, not punished for it with their stock plunging nearly 50%.
Its ok for a company's stock to go down in value if they incurred hefty losses or miss revenue/profit targets, but not when it reports one piece of great news after another.
ENOUGH IS ENOUGH, time for XORTX shares to go back up to at least $6.00 a share.
Otherwise, XORTX will be the "Kraken Robotics" of NASDAQ, referring to a St. John's based tech company known for reporting great news, but gets punished for it with share prices hovering at one year lows.