Summary
- Strong volume and sustained price action are a great signal for investors for very good reasons.
- New board members will put an end to former CEO Petit's newest ambitions.
- The internal investigation's end means that the company is ready to move on with a new accounting firm to release past financials.
- MiMedx could use a capital raise, but it is set to start trading again as a best-in-class company in the near future.
MiMedx Group, Inc. (OTC:MDXG) is on fire as heavy volumes and positive price action signal significant institutional buying along with a potential short squeeze as the company's prospects are finally on the upswing again. A slate of new board members would be a welcome relief for a company seeking legitimacy after its year-and-a-half long internal investigation into the company's sales practices has officially come to an end. With a new accounting firm on board, it is only a matter of time until the company's past financials are back in order as the company might consider a cash raise to properly set up its re-emergence as a best-in-class wound care company.
MiMedx is up significantly price-wise on abnormally strong volume (over 6X volume at writing) as a potential new institutional investor is potentially buying into the company's prospects along with some much-needed short covering.
