Time for the G & T29 Jan 2021 16:11
OK, I'm not sure whether to laugh or cry over the comments made on here today. I think a few of the long-standing LTH's have talked some sense, but other than that it has been a mix of ranting, stupid conjecture and misinterpretation of just about every line in the RNS at some point today.
Expectations had been ramped up over the past few weeks with figures as high as half a billion in turnover thrown around. All the way through, people like ShaunP continually cautioned against getting too carried away, but it carried on.
So what is going on?
I personally think its a combination of factors that have added up.
Expectations not met fully, despite the fact that the results are actually brilliant from almost a standing start.
Some profit taking maybe. I have a lot of these and nearly sold a few last week at 1190
Some more vaccine news (remember last time)
General market malaise (FTSE down considerably this week)
People generally forgetting that the need for testing is not going anywhere soon.
Combine that little lot and its not surprising that we have have a bit of a retrace.
One thing I am certain of is that things will settle down and that the SP will recover and go on to greater levels as product launches, contracts etc. are put into place over the coming weeks and months. More importantly, Novacyt has the money and the time to pivot away from the Covid bonus as I think people are forgetting that it is a diagnostics company and not a covid only affair.
So why don't we all stop calling each other names, ranting about the management and the RNS wording, speculating about dirty tricks, take a deep breath and all have a good weekend. It will be fine folks, it just requires a little patience and common sense.
Now where's that lemon? GLA :-)