Post by
tamaracktop on Apr 06, 2021 5:00pm
The Great thing about today
For one thing, it's over.
Today the stock traded 56% of its average daily trading volume over the last 3 months.
Today was completely useless. Meaningless. It was total write-off that may as well not have happened, but there's always a bright side.
For one thing, there were 11,000 shares on the bid after the close, and 700 on the offer. That means those are good-through orders, or they would have disappeared after the close.
More importantly, today being over now brings us one day closer to Q1 numbers, and one day further from the low set on March 17th at $3.76. The longer and further that infamous day recedes into the history books, the more likely the market is to realize that that was the lowest price we'll ever see this stock trade at again.
Then the market will start to wonder what this stock will be trading at in a year, with trailing revenues of ~ $150mm, and forward guidance of $200mm+.
Comment by
Magicmike67 on Apr 06, 2021 5:51pm
They did say during the conference call that there would be more writedowns in 1H/21. They did not give any estimates or numbers on this. We will probably have another pre-announcement before Q1 results are released. Hopefully the worst of it is behind us now though. I added 2.5% to my position today.
Comment by
Ciao on Apr 06, 2021 8:31pm
Makes no sense to have a pronouncement on Q1. They only did so for year end as they had previously given out guidance for 2020 rev and found the need to do so due to a large miss. They already stated some RNG projects will have no gross margins in H1. Look forward to the sales of BGX Biostream units as that will lead the share price.