I didn’t have Biorem as a “must” review this week even though I held a position coming into their Q2 earnings which were released on Monday. I had twelve requests in the Wolf Den discord since earnings were announced. The people have therefore spoken and the Wolf always listens to the people (LOL, not really).
Last April, Biorem entered into rare territory achieving a four star Wolf review, and over the next eight months surged by 141% from $1.43 to a high of $3.45. Since then the company has not been able to maintain that momentum, both within their results and correspondingly their share price as well. As you well know, #FinsDontLie.
I’ve been exiting my position over the past little while, which was a painstaking process to say the least due to low liquidity and algo’s undercutting me on the ask. The stock popped as much as 17% on earnings and I used that liquidity opportunity to sell the news to complete my exit.
While I exited, I’m certainly not writing them off forever. I think there may be a day where the stock should be back on my radar. Let’s get into the review and I’ll touch on when exactly that might be.
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