Did not expect this kind of drop right out of the gate. Will get in at rock bottom. Does anyone know if this company is planning to offer full genome sequencing and analysis services, similar to that of complete genomics, or is this company just a hardware developer?
I believe they will only sell the hardware, software, chips and reagent. How and what the customer does with the product is up to them. Keep in mind the company is bleeding badly from all the R&D overhead. Also, if the rumor of an inaccurate SE-1 filing is true, that will affect investor confidence and drive the share price down to single digits. Management inexperience and lack of oversight is costing them where it hurts most as you can see. Quite dramatic sell-off, a slap in the face to the CEO.
Something came out yesterday, I saw it on Schwab's trading app under news, that they had a failure to disclose "something" in their S1 and that they filed ( i think yesterday) with the SEC for an exception to disclsoure rules due to some trade secret or something like that. Sounds fishy. At that moment the stock started to plunge and clearly it continues today. Shame on me for hanging on to the shares I bought in the IPO. Not many but should have taken the fast profit instead of a $3 loss per share.