Friday AGM ....and (very) Recent NegativityIt should be hoped that the AGM scheduled for this Friday would be a great time to expand on the release of the FDA EUA for AcuVid and updates associated with Venowave. Could this finally be THE WEEK for Therma Bright?
I was asked my thoughts on a concerning weekend of negativity. Having put so many on ignore most of that no longer comes across this bullboard for me. But some backward and forward thinking might be of value to some.
The first is that after years of investing and particularly over the last two it is more apparent that it is rare to find a stock that is not manipulated in some way by day traders and shorters. Recent world events leading to the bleeding across ALL exchanges is a perfect recipe for these individuals ....including hedge funds to have a field day. This in spite of the fact that the fundamentals and potential for these companies haven't changed. In a word it gives bashers and naysayers and even those who are normally optimistic a perfect storm to be otherwise. Therma Bright is not immune from this! The following is a quote from a BNN story last week that demonstrates that THRM is not alone and that the bleeding is widely felt ....doesn't exactly fill one with optimism.
Nearly every member of the Nasdaq 100 fell on Thursday, while about 95% of S&P 500 members were lower."
In spite of some great news on Venowave the key for THRM is AcuVid. This brings up the second issue which is the ongoing debate, both informed and misinformed, as to where the pandemic and testing are headed. The obvious answer is that NO ONE really knows as is expressed through the differing opinions of experts and others. There are some absolutes though ....covid is with us forever now ....at least for the next year or so testing will continue ...nasal swab based tests are proving less effective in detecting Omicron and it's relatives and thus the added recommendation for swabbing the inside of the cheeks. AcuVid should make this a moot point.
In the end no one should be investing in stocks without first carrying out significant DD on a company and sincerely assessing their risk tolerance. With all the chaos of the markets this is no place for the faint of heart to invest their hard earned cash.
As Vinny mentioned, Morningstar's Fair Value sp at the end of the day on Friday was $.41. The resistance levels fall between $.17 and $.195 and could easily be breached on strong volumes and/or great news and/or some relief from the bleeding. The strongest support is at $.165.
Hope runs eternal and hoping for a big week for everyone!!! Cheers!