It’s not a stock that’s been in anyone’s forethought for some time. In fact, Calyx Bio-Ventures (CYX.V) isn’t even in the bio-science business anymore, and yesterday you could have bought the entire company for the cost of a Saskatchewan condo.
Today? Two condos. Hey, it’s a start.
Normally I wouldn’t comment much on a largely dormant stock moving from $0.015 to $0.035, because a largely dormant stock usually doesn’t take much buying to bounce about.
But Calyx had moved 3 million shares by breakfast today. By lunch? 4.5 million. Something’s going on.
This isn’t a surprise to me. I had lunch with the CEO a few months back and he talked a lot about his plans to take the company’s ‘Cannigisitics’ software platform and diversify it to other industries outside of marijuana. He’s already done this by putting together a version aimed at commercial real estate management, currently being employed by the owners of Vancouver’s soon-to-be-opened Trump Tower.
But I’ve heard rumblings that Calyx, in building out Cannigisitics, has developed a tool that could be spun out into something bigger.
I don’t have specifics, and CEO Roger Forde, when I called yesterday, wasn’t saying anything other than, “I can maybe demo you what we’re working on in a few weeks.”
Does someone in the Calyx team know enough to start eating stock in advance of news? Has there been a leak? Is it maybe Forde himself doing the buying?
Calyx has seen false starts before and there’s no doubt the company is a microcap in every sense of the word. But when your market cap is under $800k – after a 4 million share trading day – it seems to me there might be some value there.
— Chris Parry