Avacta: a double disaster, shares slump but, even so, now in my top 5 Covid testing sells
By Tom Winnifrith | Monday 10 January 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Oh dear. How sad. Never Mind. The Covid testing bubble is bursting and an admission this morning from Avacta (AVCT) is even more of a disaster than a 27% share price slump suggests. This collapse is only just beginning and will spread across the sector, so completely vindicating we cynics of stocks such as Abingdon (ABDX), Omega Diagnostics (ODX) and others. As a bear, preparing to crack out a celebratory ouzo, Let me explain.
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.