GREY:XEBEQ - Post by User
Post by
tamaracktopon Jan 06, 2022 5:05pm
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Post# 34290778
Coming up on a big anniversary
Coming up on a big anniversaryNext Wednesday will be the 10-month anniversary of an infamous day.
It was March 12th when Xebec issued the guidance revision that put the stock in the
penalty box.
The stock had closed at $7.94 the previous day, having been as high as $11.50 in January.
It dropped 31% that day to close at $5.46 on 9.5 million shares.
Now read this excerpt from the press release very very carefully:
"As a result of extraordinary items in its Cleantech business segment and due to the impact of the Covid-19 pandemic, Xebec no longer expects to achieve its previous full year 2020 revenue guidance of $70 to $80 million. While the financial review remains ongoing, revenues for the full year are expected to be approximately $57 million."
Xebec "had traded as high as $11.55 in the market based on guidance of $70-$80 million."
Today guidance sits at $120-$130 million for the year just completed.
The stock is $2.30.
There has been no stock issuance since then.
Think about that.