SEC Asleep at the Wheel?STRONG SELL RECOMMENDATION - 600 Reasons to Sell this Dumpster Stock
161. The PennyPosse published on Oct. 13, 2006, “Unfortunately, APDN’s work under the microscope has produced only microscopic results for shareholders. The company stock now trades at 9 cents, 2 cents above its 52-week low of 7 cents.”
162. As I have said previously, APDN is judgment proof and there’s a good reason for this.
163. SmartWater Technology is a leader in forensic technology products and services. In 2012, they sued APDN for patent infringement. But why then would they drop their lawsuit against APDN?
164. SmartWater alleged that APDN stole two of their patents.
165. SmartWater remained confident that it would win the lawsuit based on two patents infringed by APDN. However, SmartWater decided to drop the lawsuit based on its concerns about APDN’s financial condition, as disclosed in its financial reporting which made it unlikely that APDN would have sufficient financial resources to pay any judgment SmartWater might obtain.
166. On Dec. 20, 2023, Simply Wall Street publishes a scathing article about APDN.
167. The Market Doesn't Like What It Sees From APDN’s Revenues as Shares Tumble 26%
168. “To the annoyance of some shareholders, APDN’s shares are down a considerable 26% in the last month.”
169. This “continues a horrid run for the company.”
170. “For any long-term shareholders, the last month ends a year to forget by locking in a 52% share price decline.”
STRONG SELL RECOMMENDATION - 600 Reasons to Sell this Dumpster Stock
171. “Applied DNA Sciences has been struggling lately as its revenue has declined faster than most other companies.”
172. “In reviewing the last year of financials, we were disheartened to see the company's revenues fell to the tune of 26%.”
173. “It's somewhat concerning to see revenue growth decline so harshly.”
174. “Looking ahead now, revenue is anticipated to plummet, contracting by 60% during the coming year according to the dual analysts following the company.”
175. “With the rest of the industry predicted to shrink by 2.1%, it's a sub-optimal result.”
176. “With this in consideration, it's clear to us why APDN’s P/S isn't quite up to scratch with its industry peers.”
177. Importantly, “with revenue going quickly in reverse, it's not guaranteed that the P/S has found a floor yet.”
178. “Even just maintaining these prices could be difficult to achieve as the weak outlook is already weighing down the shares heavily.”
179. “The Key Takeaway – APDN’s P/S looks about as weak as its stock price lately.”
180. “As we suspected, our examination of APDN’s analyst forecasts revealed that its even shakier outlook against the industry is contributing factor to why its P/S is so low.”