The Bear Cave issued a cautious report on Poet Technologies (POET), saying the company has “virtually no revenue,” and the stock is up roughly 450% this year with a lofty $10M average daily trading volume. The firm believes Poet’s rise is based more on hype than substance, noting that Poet has almost no sales from its products and in its most recent annual filing disclosed “an accumulated deficit of $214,291,025” and added, “Our auditors have expressed substantial doubt regarding our ability to continue as a going concern.”
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Read More on POET:
- Largest borrow rate increases among liquid names
- Poet Technologies appoints Bob Tirva to board of directors
- Poet Technologies call volume above normal and directionally bullish
- POET Technologies Announces New Share Purchase Warrants
- Poet Technologies price target raised to $7 from $6 at Northland
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
