LFD 10 min test9 Jun 2020 09:22
We've opened up and dropped back, I think this shows us the share price is not just following testing news, but very specifically LFD news.
The RNS says:
"We continue to make very good progress with Cytiva on the saliva-based antigen test and I look forward to updating the market soon on both of these product developments as well as future additional partnerships."
But that's it. Those looking for a quick profit are probably jumping ship thinking there won't be an update on the LFD for some time - or at least nothing today.
I was getting a little nervous as I'm sure many others were. If Sir Al made a webinar appearance on Thursday and avoided talking about testing or had nothing to say, it would've been a disaster IMO - complete loss of confidence would have occured.
At this point I'm really not bothered what the share price does in the meantime until LFD news arrives. We've had our assurances everything is fine and no doubt we have more to look forward to on Thursday.
Three of my predictions:
1: Even news of an approved BAMS test won't send the share price dramatically north, there's not enough excitement surronding it. It will be the confirmation of orders and income which does it.
2: Positive LFD news, even without orders, will create a very dramatic re-rate. In addition, it's IMO highly likely to make media headlines (depending on what else is going on in the world at that time), which will push us even further north. Look at what Boohoo guys media attention did, and that wasn't even very exciting news! Essentially it said - this company is planning to distribute a product which doesn't exist yet - and we went up about 40p or something.
3: LFD news will land in the afternoon, not at 7am. It's a partnership and I think Cytiva and Avacta will publish simultaneously. Cytiva are in USA. It will probably catch a few people off guard.
I'm hoping this mornings news will shake out the rainbow chasers so the smart money moves in ready for the big news when that arrives.