Dear John letter too ODX4 Sep 2020 21:21
I've been in since March. I've lived through FerrariCollector (where did he go?) the speeding ticket, the placing, the you don't want to be out over the weekend (every weekend) the drop on nearly every RNS, the drop on the legendary design freeze... etc etc. I'm leaving with a reasonable profit (but nothing like I'd planned for) I've had a chunk of change (£50k) riding and was (in my opinion) a well researched sensible investor. However I've made some poor decisions as I got emotionally attached to the company.
I even dropped by Alva to have a look at the offices and see the progress on the new lab, while on a trip travelling to Dundee in June!
One of the strengths when I initially invested was the government backed RTC. This (in my opinion) has been the company’s mill stone. I don’t think anyone (let alone PHE or whatever they are called now) understands HMG’s short/medium term strategy on testing, they seem opposed to a sensible strategy on airport testing (Boris Johnson has rejected calls for airport testing, claiming that screening all passengers would create a “false sense of security” because it identifies only 7 per cent of asymptomatic cases: The Times today)
I know there are more products and ODX is not a one trick pony, but let’s be honest, it’s what most of us became attracted to the investment in the first place.
My other major issue is the general marketing, we’ve all made excuses to ourselves and told ourselves Colin’s a decent CEO, he meets his deadlines. But lets be honest… that twitter video of the production line was pretty amateur for a company that’s just had the thick end of 10 Million pound of our money invested into it!
The RNS’s have appeared defensive and weak. & while I appreciate we don’t need empty rampy promises… come on!
We’re down on the month, the week and the day. I fear the SP will hit the 40s before we hit the 60s again.
I’m genuinely disappointed. But as I already said: “I got emotionally attached to the company” I’m here to make money, not be buddies with the CEO and I think at least in the very short term (next month or two) there are better covid and non covid opportunities out there.
I think ODX will probably give most medium to long term holders a return, but probably not until the end of the year.
& not the “multi bagger” we thought back in spring.
I feel better for my Dear John letter, and wish the best of luck to the company, all the posters and (genuine) investors.
Nothing but love.
Peace out brother and sisters!
Maylands x