Discontinuing Coverage: 900% Return Over 7 Months
One of the challenges of being an investor in the current market environment is trying to sift through the enormous number of investment opportunities available. One of MedicalGold’s objectives is to utilize our unique insight and market knowledge to separate the wheat from the chaff. We are committed to finding what we believe to be under-the-radar, asymmetric risk/reward opportunities, and explaining these investment opportunities in a clear, concise, and entertaining fashion.
The first company we covered in the biotech/medtech space was Izotropic Corporation (CSE:IZO, OTC: IZOZF). In our June 9 2020 post, we highlighted IZO and concluded by stating the following:
“I have purchased IZO shares on the open market and intend to add to my position over the coming weeks. I believe that anything under C$0.30 per share offers an extremely attractive reward relative to risk proposition for investors - IZO has the potential to be a 10-bagger from current levels over the next 12 months.”
IZO shares proceeded to rise more than 900% over the next seven months.
Izotropic has done a good job of building out an impressive management team and advisory board. The company is now set to embark upon a critical phase of FDA clinical trials with the aim of improving breast cancer outcomes and commercializing IZOview Breast CT. Newly appointed CEO Dr. John McGraw looks like the right man to lead Izotropic through this next phase of advancing IZOview to FDA approval and commercialization. Dr. McGraw has 21 years of experience in the medical device field, including previous senior executive roles as Vice President of Operations for Novadaq Technologies Inc. (NASDAQ: NCVQ), a medical device imaging company that was acquired by Stryker Corporation for US$701 million in 2017.
Today, we are announcing that MedicalGold is discontinuing coverage of Izotropic and we have exited our position in the stock.
The decision to discontinue coverage has nothing to do with Izotropic and everything to do with our decision to aggressively focus on the emerging medical psychedelics space. MedicalGold is committed to focusing on following our featured companies, in addition to constantly researching new opportunities with the aim of uncovering the next hidden gem (like Izotropic).
We wish Izotropic the utmost success and we are grateful to have had the opportunity to share their story with our readers at such an opportune time.
DISCLAIMER:
The work included in this article is based on current events, technical charts, company news releases, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource and biotechnology companies can easily lose 100% of their value so read company profiles on www.sedarplus.ca for important risk disclosures. It’s your money and your responsibility.