In June of this year, Revolution Technologies was trading in the $4.60 range. In previous years the stock had traded above $34.00. On 19 OCT EdisonReport published that Revolution Technologies was losing their revolution, as the RVLT stock was trading in the $2.50 range. The CEO offered to take the company private at $2.00 per share and the stock promptly dropped to the $1.60 range.
On 13 NOV, the CEO, the person most responsible for the health of the company, lowered his offer to $1.50. And the stock, again tanked. We ended our article with a rhetorical comment: “Just think what the company will be worth in December.” Today the company trades at $0.58 per share as the company’s audit committee has uncovered potential accounting errors, and the company has concluded that it cannot stand behind its quarterly and annual financial statements filed for 2015, 2016 and 2017 and the first half of 2018.