- Shares have retreated from recent momentum highs on a decrease in volume as traders have seemingly left for assumed greener pastures.
- As expected, the massive rally has resulted in a large number of warrant exercises. So far in 2021, the company has been required to issue an additional 35.5 million shares.
- Liquidity at record levels thus providing runway well into 2023.
- Company requires $45 million in annual revenues at 50% gross margin to achieve EBITDA breakeven.
- Given the ongoing warrant overhang and uncertainty regarding the company's international business, only traders should consider scaling into the shares at current levels in preparation for the next momentum stampede.
For further details see:
Biolase: Risky Turnaround Play Still Mostly Suited For Traders