For what its worth, here is my take on what is going on:
Regarding the stock price, I think somebody with a lot of money uses every piece of bad news, however small (such as the SC Senate Finance Committee vote), and shorts the stock to try to create panic selling.
Regarding AB&G responsiveness, I think Wilson is spending time fighting the political battle in SC. A floor vote on a VGM bill will be the clearest test of this issue. The sooner we can get one, the better. If a floor vote is coming soon, then I would rather have Wilson working legislators than investors at the moment.
I think BNGO will be better off when the SC situation is resolved, even if the anti-VGM succeed (which I doubt). It seems to me the biggest problem we have right now is uncertainty. Even if VGMs disappear, with the doubt gone, people will start to focus on the realities of this company and discover it is worth more than the current price. Perhaps more importantly, management can go back to growing the business (instead of defending its turf) and shorters won't have any bad news to fear-monger with.
Obviously, all of this is pure speculation on my part. Seems like plausible theories to me, though.
TKA |
