Skip to content

Muddy Waters goes short on Inovio, citing Covid ‘hype’

September 2, 2020

Inovio Pharmaceuticals (NASDAQ:INO), up 245% in 2020, is off more than 12% Wednesday as short seller Muddy Waters discloses they are short the name, citing a recent court decision against the company and its recent rise due to the “hype” around a Covid vaccine.

The court decision indicated that the company “lacks manufacturing capacity” to reach 1M doses in 2020 and 100M in 2021.

The competition among the 5 Operation Warp speed companies makes INO’s chances slim absent their ability to force their supplier to transfer manufacturing technology, the research firm wrote.

The Warp speed participants include Sanofi (NASDAQ:SNY), GlaxoSmithkline (NYSE:GSK), Vaxart (NASDAQ:VXRT), Pfizer (NYSE:PFE), Moderna (NASDAQ:MRNA), Merck (NYSE:MRK), Johnson & Johnson (NYSE:JNJ) and AstraZeneca (NYSE:AZN).

https://seekingalpha.com/news/3611000-muddy-waters-goes-short-on-inovio-citing-covid-hype

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: