2024-05-08 07:05:56 ET
Summary
- Luna Innovations seemed to be a potential multibagger with a lot of potential in the long term.
- However, revelations that started to come out 2 months ago have destroyed faith in the company, with shares down -67%.
- In this article, we discuss what happened at Luna, and we highlight the most important news that has come out since the 12th of March 2024.
- We hope this article provides context and an explanation of what is happening and what investors can expect from Luna moving forward.
- The company is now quoting at 1x its book value and might attract potential suitors.
Introduction
A few months ago, Luna Innovations ( LUNA ) started to look like a potential multibagger, thanks to great technology and an experienced management team. Today, however, the company is plagued by accounting problems, an internal investigation and a management team in shambles. Now, the company is potentially looking to sell itself (as the company is doing a "strategic review"), as it might not want to continue to rebuild the company from the current crisis. How much could investors expect from a potential suitor? In this article, we explore what went wrong and what we can expect moving forward....
Read the full article on Seeking Alpha
For further details see:
Luna: An Update On This Great Story That Turned Into A Potential Death Spiral