KIOR Inc.
https://www.google.com/finance?cid=14011845
This is a biowaste to biofuel company whose stock has fallen from $5 to $1.55 over a month. They're getting sued by everyone and their moms:
"According to the complaint, KiOR made false and/or misleading statements regarding the company's business operations and prospects. Specifically, the complaint alleges that, throughout the Class Period, the company and certain of its officers and directors made false and misleading statements regarding the timing of projected production levels of biofuels at the company's Columbus, Mississippi facility. Further, the complaint alleges that, despite numerous setbacks and missed production targets, KiOR continued to reassure investors that the company remained on schedule to produce commercially meaningful levels of biofuel. As a result of these false and misleading statements and omissions, KiOR shares traded at artificially inflated prices during the Class Period."
Are we approaching a good time to buy because of the lawsuits driving down the price? Short-term short, long-term long? Or is this thing going bankrupt?
Bought small position at $1.60 really as a gamble that they were just a quarter behind their production targets. That being said they really shat the bed on those production forecasts which called for 300K-500K gallons, in reality on shipped little over 75K. New technology takes some tweaking to be sure so maybe they can turn it around before the end of the year.
Great time to buy. Unlikely they will go below $1.
Hell I'd buy it just to gamble. A buck and a half? Sign me up.
Nice pop yesterday. Interesting how Khosla decided to give KIOR $50MM after hiring Condoleezza Rice as an advisor to the firm...... being that she is on the board of directors at KIOR.
Eos optio totam molestiae sunt porro harum non dolores. Autem et unde distinctio et possimus soluta reprehenderit. Excepturi autem aut velit placeat molestiae.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...