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Yup, party's over.

The problem is, who would buy a biotech atm? I hold 3, including this one, all bought in more optimistic days, all substantially down, but no way am I tempted to buy more in order to lower my average.... it would feel too much like throwing good money after bad. There's too much past scarring and pain. Looked at through that lens, I can really understand why the price of biotechs keeps falling.

Wow, 971p to sell. Ten-year lows and that includes the covid nadir.

6.5% divi yield with multiple catalysts for a re-rate. Oversold to me.

Volatility

They said the UK was undervalued, they said the tide had turned, they said the Magnificent 7 could not outperform forever... blah, blah, blah!

As said, a falling knife... and my hand has been bloodied!

18/6/24, to answer my own question. We need to hear something positive because the corporate story here has been a car-crash.

All-time lows? When are they reporting to the market?

...or south in the very short term?

Lots of stuff on Shein.

"LONDON, June 13 (Reuters) - Fast fashion retailer Shein, known for its China-made $5 tops and $10 dresses, has hiked prices by over a third on some core products, in a move likely to boost revenues ahead of its planned IPO, according to an analysis of its pricing strategy."

https://www.reuters.com/business/retail-consumer/fast-fashion-retailer-shein-hikes-prices-ahead-ipo-2024-06-13/?utm_source=Sailthru&utm_medium=Newsletter&utm_campaign=Daily-Briefing&utm_term=061324&user_email=34cc41cac5ec688766465ade8724681e0e871cd7e7c68123e81724cccf586a21&lctg=61b3aff4267abb218e572420

A few days ago I bought what I thought was the dip, but it keeps dipping lol. Am already 5% down...

Entirely possible the share price could retrace to the 10 year lows support at 320p. Also beginning to wonder if the divi is safe at these levels... 9.5% is on the high side for sure. Oh dear! Too early to the party again.

Fair comment HarChris!

In case I'm accused of being a bit too negative after the post below (lol), I should say that Equity Development released a research note on Destiny today. and they state fair value remains at 234p per share. Remarkable! For balance, I should say that Equity Dev. are paid-for content.

https://www.equitydevelopment.co.uk/research/agm-statement-and-recent-progress?utm_campaign=Destiny%20Pharma&utm_medium=email&_hsenc=p2ANqtz--6LzJsRuq1CJQViPwiBhxkm-J4lRzQU-TFLv3y8k34kDUxvL3Umsb0Vhg5IViL9TRVqvafqlNrLbdPKCZu61hvLu2mHQ&_hsmi=311410597&utm_content=311410597&utm_source=hs_email

I find myself agreeing with every word you say neon. I also got caught in POLX. Eventually the penny dropped and I sold half my holding at 5p, taking a nasty loss, but unfortunately keeping half in case I was wrong. Shortly afterwards, news of the placing arrived and the share price cratered to 1p. Similarly with DEST, stung by my experience with POLX, I took my licks and recently bailed out entirely at 15p. I don't know, but have to say that taking an early loss seems to have been the right thing to do.

I want to make money on biotechs and I'd like to see the tech succeed and do some good in the world. Win-win! That was always a big attraction of investing in this space... but it simply hasn't worked out that way. Neither have I made money, nor, as far as I can see, has the tech done much good, because in all cases the tech hasn't been deployed in sufficient quantities and no big pharma has swooped in to pick up these little morsels. Risks are so company specific, outcomes so binary.

I know it was an AGM and presentation combined, but I found it all a bit formal and negative. The slides on 'a viscous downward spiral' and the one showing the endless time-line were particularly depressing. Couldn't they have jizzed it up some? Aren't they forgetting that the 1st thing a pre-profitable biotech must have is a good story to keep the faithful onboard?

Just back and see the sp has tanked. Presume the Presentation and Q&A didn't go well then. Feeling smug about taking my licks by selling at a loss a fortnight ago.

Bloody biotechs! Been the worst of times to invest in them. That'll inevitably change, but when I don't know.

Will watch the presentation shortly to see what's upset the market.

I'd steer clear of biotechs - this one has been exceptional.

Personally, I've sold 40% which has yielded sufficient profit to mean that my remaining 60% is at zero cost, so I fully intend to continue riding this one. Seems like a reasonable way to play it.

Only £200m mkt cap, plenty of room for further progress.

Well, if that's Andy Brough, he's known to dabble in a little trading along with his investing. As he famously said, "Shares are for the buying and selling and not to fall in love with because they can't love you back".

I mean let's hope for the former of course!

Yup, with plenty of "AI enabled" in the text... lol. AI winner or AI loser? Let's hope the latter and let's hope this morning's share price reaction is the start of a consolidation phase.... because the mkt cap of this company has been decimated in the past 3 years.