Matt did not seem upset about the stock price action today, and I doubt Al was too concerned either. They have the inside information, and know that there was no reason for the sell off. In fact I was surprised to find myself so relaxed looking at such a huge down day in my portfolio even before the rebound. There are two reasons for this, or three. One is that I am following the company very closely and was pretty confident that there was no material event that caused the drop in the stock. (Number three is that Matt confirmed this during the conference and sounded relaxed and not at all vexed by the price drop.) Secondly, if you had asked me in April if I thought the stock would be at $6 by July 1st, I would have said probably not.
Today's update is that everything is going according to schedule, the trials are completed, the tone is optimistic about results, financing seems to be less and less of an issue with warrants being excercised. No stock goes up 300% in a year without a serious correction. So I am only sorry I didn't have enough dry powder to buy the dips.
