Writing this for the benefit of the community, and as someone who was very bullish through 2021.
Paxlovid forms around 40% of FY23 revenue, and was extremely high margin. Laurus’ last Paxlovid shipment was made in the first week of September. In other words, there is no contribution from Paxlovid currently.
The price action coincides with this, and the top for Laurus was made in the first week of September.
My best guess is that smart money exited, knowing what Q3 is going to look like.
D: Was invested, sold in July after someone from the community pointed out how large the contribution from Paxlovid was. I would have bought into the current correction without this pointer. I want to pay this forward, and I hope this helps investors make a better decision after thinking about valuations ex-Pax.
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