RE: RNS news11 Mar 2022 09:51
"Hey Stockraiser, did you actually read the latest RNS? Their UK application has finally been rejected so why on earth would the SP bounce? I am a holder so would love to know your reasoning."
Their application for the professional POC has been rejected (despite already being validated and registered in the EU - which speaks volumes). The self-test LFT is still under consideration, as UKHSA changed the requirements post-application and the manufacturers were required to do further testing.
To be perfectly honest, I'm not that bothered about the professional POC, which was never going to be a big market anyway, once the decision was taken by governments to move to self-test LFTs. PCR will still be the primary method for clinical validation of self-test LFTs, particularly in relation to health and social care.
I know a lot of people invested in ODX on the back of Covid - but that was always going to be a risk (given the incompetence and corruption in government and certain parts of Whitehall) and, ultimately, time limited. However, some of us invested on the basis of the wider portfolio (I was attracted by the CD4 tests, as I previously worked in the HIV/AIDS field), which is where we are already seeing growth (during a pandemic I should point out, when the focus will be elsewhere!)
I have quite a significant sum of money invested in ODX and I'm as concerned as others by the significant fall in the share price. However, part of this is arguably 'self-inflicted' on shareholders by the OSAG (themselves a very opaque group with no real governance) who whipped people up to vote against a board proposal without any idea what they would do after the vote. You also have to remember that AIM stocks are particularly susceptible to organised gaming by traders - and we've seen evidence of that with ODX.
The fall in the share price has allowed me to average down very significantly. As I've always made clear, I'm a long term investor rather than a trader or short-termer. I'm happy to leave money invested here as I can see the value in the core business, which the board is now focusing on and investing in.