A tumbling share price can make companies do odd things. If you’re Sona Nanotech (CSE: SONA), evidently one trick of the trade is to release news.. about releasing news. The company put out a press release this morning, to announce the news that the company “expects” to release news next week on its clinical in-field validation study results for its rapid detection COVID-19 antigen test.
The only substance to the announcement this morning, is essentially that the data released next week to investors will be utilized to support the firms submission to Health Canada and the FDA for an emergency use authorization for the test. The company then pointed out that it is currently reliant on third parties and “testing protocols with multiple complex variables.” Effectively, it was Sona’s way of saying “if the news doesn’t come next week, it’s not our fault.”
The announcement of an announcement comes as the company is evidently scrambling behind the scenes following a fall from grace of its share price. While having a fifty two week high of $16.05, the equity is currently free falling, with the equity down $1.78 today alone, or 20.0%, with much of the freefall coming after the terrible release the firm put out this morning.
Evidently, fluff news shakes the confidence of investors.
Information for this briefing was found via Sedar and Sona Nanotech. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
17 Responses
Sadly this website seems to have reached Seeking Alpha level of standard. Putting out an article that gets invalidated within 1h of its publishing? And the market actually reacted the opposite way of what is described here?
Who invalidated it.
Was it you Joe?
Keep commenting and we actually might start to dig in on SONA?
Would have more respect if you simply admitted you were wrong with the article and much of the buying was probably shorts covering. You still have a chance to write a positive article after educating yourself with proper due diligence and not just looking at a chart.
Thanks for reading!
You can still delete this
Why? Its our number one viewed article. SONA should be celebrating us for driving the stock back up with a single article.
If you really think your article was the reason the stock increased, you lost your mind. Not one postive thing mentioned in your article but you think “SONA should be celebrating us for driving the stock back up with a single article” 🤣 write another one please!
Tabloid stock news. If anything rely on this site for unreliable news like its competitor Seeking Alpha.
Are you suggesting that we should put our our own news on how we will put our our news?
Maybe the author should write an article about “shorters” taking advantage and driving the price down when things don’t exactly run as planned. Without “shorters” we’d still be sitting at $15 patiently waiting for the promised news!
Forgot to add the following
“It then recovered every single penny lost and boosted right off to the green zone, talk about confidence among investors”
Sounds like the article brought in a bunch of buying? You should thank us.
A negative article that failed to show the full story brought in a bunch of buying? I highly doubt anyone actually buys a stock reading an article that shows incomplete information. It might have triggered people to actually dig for truth and the full story, but this article on its own by no means brought any buying pressure for $SONA. If you had waited less than an hour this article (?) would have had a completely different ending. “You should thank us”, what a joke. I guess this website is the equivalent of people who do it for the sake of pure viewership using a popular ticker just to get views rather than inform the market of what’s really happening. Doesn’t take the time to digest the actual events happening, but just pumps things out. 0 integrity, 0 logic, 0 research, and 0 value. First and last time reader. Market reaction shows how uninformed this author is. Market bounced back quite well with strong confidence despite what this “article” suggested. If you got impacted to sell reading “articles” like these, investing isn’t your strength.
Not sure what the real purpose of this article is..maybe you should update the article to note the price increased to $9.34 within an hour of its posting?
Hey you’re welcome for the buying the article generated!
LOL. Idiot. The share price is in the green today.
The news report confirms they started the application for FDA and Health Canada approval and that they are releasing a report on the final piece (in-field results) next week.
Thanks for reading!