There’s actually been a couple threads on this company, one which I introduced back in January.
And then a discussion from Saul about the gross margins and unprofitability of this company,
What I can tell you I was initially very interested in this company due to it’s customer list, especially AeroVironment (AVAV) and Airbus which funded this company. I believe Airbus owns over 50%.
Unfortunately this company signed it’s own death warrant recently. When they said existing warrants priced at $11.50 could now be exchanged for $1.10 or over a 90% loss.
This company has burned through capital faster than I expected and they’ve done nothing at all to support their share price. In the short time I have followed the company it’s gone from $4.20 to $1.40 a share.
I actually wrote to investor relations to ask if the company was going to do anything to support it share price after it consistently dropped from $4 to $2 on no news. They replied they cannot discuss share price but thanked me for supporting the company.
Honestly, I’ve never seen a company trade down like this nearly every day.
Could it be a bargain at the currently levels? Possibly if they recover, but this company is definitely not a Saul stock.