A US-based shareholder of Veritas Pharmaceuticals (VRT.C) put a boot to the company this morning (and, frankly, his own portfolio) by dumping $250k worth of the stock into the market, slapping the share price down by around 25%.

Clearly someone needed to cover a short. Or pay a divorce lawyer. Or send cash to Big Vito after ‘the Vegas incident.’

I spoke to management at the company briefly this morning to get clarity on the situation and was told that other investors are cleaning up that dumped stock (at a bargain price, it should be said), that insiders are looking to pick up some, and that the company is on course to put news out next week.

I spoke to one long term investor in the company via social media, and while he asked that I don’t identify him, he confirmed that sentiment.

“Dumb sell. Too cheap to just leave there. Just bot 10k of VRT @.34. If it drops from there I’ll buy more.”

FULL DISCLOSURE: I’ve bought more too, at the same price.

— Chris Parry

NOTE: The author is a consultant to the company and owns stock.

Written By:

Chris Parry

A multi-Webster Award winner for excellence in BC journalism, Parry is the founder and publisher of Equity.Guru, which he built with the specific plan to blend old school reporting with stock promotion, in a way that puts the emphasis on truth, high standards, and ethics. Parry is a veteran of TV, radio, and print, and consults with public companies to help them figure out their storylines, lay down achievable milestones, and improve their communication with shareholders, while also posting regular deep dive analysis of companies in the public spotlight.

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