Today, The Bowser Report issued a daily mover alert on Repro Med Systems (REPR), which fell more than 25 percent for the day.
REPR announced that it received a warning letter from the FDA at the end of February. The letter, according to REPR, alerted the company to a few concerns that the FDA had after conducting an audit in June 2015.
The news, although no safety concerns were brought up, caused investors to sell off shares midday. The selling slowed and the price recovered a bit from its daily low of $0.28.
Currently, REPR still remains a 10, as the FDA audit hasn’t affected the company’s fundamentals (yet, if at all). With this news, treat REPR with a bit more speculation, but don’t write it off entirely if you don’t have a position.
For those who enter a position or currently have a position, follow the Game Plan. Interesting note: we originally wrote REPR up on page 8 of the July 2010 newsletter (it wasn’t a true Company of the Month). The price at the time was $0.14 per share.
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