We are short $CODX due to its CFO’s checkered history, involvement with companies halted by the SEC, its astronomical valuation, a growing list of higher quality COVID tests & its propensity to issue frequent fluffy press releases.
$CODX had a distribution relationship with PreCheck $HLTY that was later halted by the SEC for suspected fraud: sec.gov/litigation/sus… 
$CODX’s CFO has a history of ties to a firm accused of boiler-room stock promotion. He was director of a firm fined $360k by Spanish authorities for alleged illegal securities sales. Great work by @sharesleuth: sharesleuth.com/investigations…
$CODX has issued 34 press releases over the last 4 months and yet NONE have detailed the number of COVID-19 tests sold or the economics of the transactions.
In Jan & Feb, the company was averaging about 1 press release every other business day.
In Jan & Feb, the company was averaging about 1 press release every other business day.
$CODX's market cap today is about 3,400x the company’s full year 2019 revenues. The stock’s astronomical valuation, in our opinion, is not sustainable and makes $CODX ripe for yet another dilutive capital raise.
We expect upcoming earnings will be a "sell the news" event.
We expect upcoming earnings will be a "sell the news" event.
We believe $CODX provides a third-tier option of questionable quality amidst a sea of growing competition. The FDA lists ~100 tests that have received Emergency Use Authorizations: fda.gov/medical-device…
$CODX's test quality has been consistently rated one of the worst, despite its own press releases touting 100% specificity and sensitivity: biocentury.com/article/304801…
The last two COVID-19 test companies we warned about, $PRED and $WORX, were both halted by the SEC. One was delisted & now trades on the Grey Sheets for about .25/share. The other is still suck in a regulatory halt.
We expect $CODX will be back to single digits in short order
We expect $CODX will be back to single digits in short order
