2020 is a year of pharmacy, biotech, and healthcare stocks which usually grow vertically by giving hope to the global public with developing the COVID-19 vaccine. Today, another pharmacy company FSD (NASDAQ: HUGE) blasts off at least 120% right after announcing a forfeiting the licenses of its wholly-owned subsidiary, FV Pharma, and within 30 days suspend all its activities.
By liquidating via sales of all FV Pharma assets, FSD Pharma wants to focus on other viable projects along with COVID-19 vaccine development. Until the end of 2020 FSD is planning to proceed with phase 2 clinical trial using FSD201 (ultra-micronized PEA) after FDA’s permission.
NASDAQ: HUGE is still cheap for gamblers who don’t consider profit analysis and EPS as criteria of a particular company. $10 barrier seems crossable for HUGE, till 2020’s end it may cost around $20 if phase 2 clinical trial goes successful.