and always a HUGE share dump right at the close.
FOLD is the classic biotech stock dumping sham that will never earn a penny of profit but will create generational wealth for management with unrelenting dilution.
It all ends under $1.
Part-time celebrity CEO with a massive comp. package has destroyed this stock.
Complete fail since going public at $15 but the guy gets a free pass because of his "story".
The street hates this guy and so should every shareholder.
Stock never recovers with him in charge as the dilution keeps pounding the stock day after day and results in a massive crippling short interest.
Down to the lowest level of the year BUT the stock is still DOWN nearly 30% YTD.
7 million shares have covered since 3-15 yet the stock has gone down over that time period.
Get it yet?
Management has destroyed this stock and it will never recover as long as the celebrity CEO is still in charge.
because the inept, greedy management that helped create the massive short position that is destroying the stock are still in place and still doing damage year after year.
Replace the "celebrity" CEO (and his massive comp. package) and the shorts will begin to take notice and become fearful.
Until that happens, positive news, upgrades, buyout rumors, etc. will have no lasting effect on the stock.
so why should the shorts or anybody else?
Why keep issuing new shares at this level (resulting in huge dilution) when they have $170 million in cash and their first drug revenue only a few months away? Why not wait until the share price rebounds with good news and sell later thus minimizing shareholder dilution?
Why? Because this management is some of the absolute worst in the sector (and highest compensated) and do not care about shareholder value.
Just read the lawsuits already filed against them.
"Celebrity" CEO et al need to be replaced before this stock will ever regain the confidence of the street.
Maybe Citron can help....
Delusional....CFO is giving presentation (I guess CEO can't be bothered to do presentations anymore). NOTHING will be said to cause the stock price to go up from here.
FOLD will most likely never see double digits again as any revenue gains will be more than offset by dilution and payouts to upper management.
Classic shareholder value destroying biotech.
BTW...Watch this junk give it all back into the close.
If the company stops selling shares into the open market and helping out the shorts, who knows.
Look at CPXX today...