You haven’t done a lot of research on this one otherwise you would have known that those lump sum payments are for milestones meet by CEA LETI the research institute in France that they also get the government grants from. It should be viewed as a positive as it means they are progressing the technology. You should stop only reading the financials until they start production as this is still being rolled out. Like I’ve said before come back in 3 years when there’s something there you’ll understand. Just for reference I must be a sucker for punishment as I’m also invested in OPT. Have a look at there past 3 quarters and you will be on the floor laughing about it. Over a 100m spent on development and not a cent in the revenue column
I know what the payments are for, not sure how you view that as a positive, its more of a negative than i it had been real revenue!
You are right, if you want to speculate on companies with no actual business, its definitely better not to read the financials!!
I really doubt there is anything to come back to look at in 3 years! The price to revenue at 1000x tells you how improbable it is that speculation of this stonk will come to anything.
Its about a pure an example as you can find of Narrative Speculation.
...or maybe not!! I just had a look at OPT, thats even worse - by multiples!! Mind you, there is nothing like a biotech to empty your wallet - over and over again! In my early days as an investor I made the mistake of investing in a couple of bio techs and lost plenty, I learnt my lesson and I have a hard rule not to touch them now!
The thing with biotechs is the risk is asymmetric in the wrong direction! The downside is huge, nearly all of them fail to make it to market and destroy huge amounts of shareholder capital on the round trip, the upside is tiny, because the odds of picking a winner are so low. People get seduced by the narrative, by how good the product sounds, but an investor is not buying the product, they are buying the business.
Anyway, I sincerely you get lucky, twice, with your speculation and you can rub my nose in your success in a few years when WBT & OPT are successful businesses!