The Bear Cave issues cautious report on Poet Technologies

The Bear Cave issued a cautious report on Poet Technologies (POET), saying the company has “virtually no revenue,” and the stock is up roughly 450% this year with a lofty $10M average daily trading volume. The firm believes Poet’s rise is based more on hype than substance, noting that Poet has almost no sales from its products and in its most recent annual filing disclosed “an accumulated deficit of $214,291,025” and added, “Our auditors have expressed substantial doubt regarding our ability to continue as a going concern.”