Genovis: Below The Line and Above Water
Redeye reiterates its positive view on Genovis, reinforcing our message that the underlying financial performance during this delicate time appears ’acceptable’, the strong balance sheet adding confidence. Scrutinizing the company’s significant special charges in Q1’20, we feel comfortable with our decision to treat those as non-recurring, adjustments that also were instrumental to our overall assessment of the case following those results. We continue to advise investors to use weakness in the stock to build long-term positions.