I don't think that AXON merited a 2 billion dollar
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Posted On: 12/13/2018 10:38:27 AM
I don't think that AXON merited a 2 billion dollar market cap at its IPO, and a stock price in the mid-20's-30, on the basis of its one "drug" -- a failed Alzheimer's treatment purchased from a Big Pharma for 5 million bucks.
It was a scam from the start -- highly touted by Cramer and other CNBC shills, sold to individual investors who were suckered in by the big names yelling "Buy buy buy" -- and then after an unusually short lock-up period, the Wall Street insiders sold their shares. Then, surprise surprise, the drug again failed.
So they still have some cash? Whoopee. What happens when they burn through all of it because they've now had two drugs fail ?
Which would you rather own, a scam company with no viable drugs but some cash, or a company that has 3 drugs with multiple clinical trial successes?
It was a scam from the start -- highly touted by Cramer and other CNBC shills, sold to individual investors who were suckered in by the big names yelling "Buy buy buy" -- and then after an unusually short lock-up period, the Wall Street insiders sold their shares. Then, surprise surprise, the drug again failed.
So they still have some cash? Whoopee. What happens when they burn through all of it because they've now had two drugs fail ?
Which would you rather own, a scam company with no viable drugs but some cash, or a company that has 3 drugs with multiple clinical trial successes?
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