r/investing
Is anyone watching FRMI? It’s the best in my port
The author bought FRMI at $5 during the AI hype, questioning the selloff reasons and if the chart shows a real base or dead cat bounce.
- The stock is currently the best performer in the author's portfolio.
- The author suspects it might be forming a legitimate base after a significant selloff.
- The stock suffered a massive selloff, potentially due to overhyped IPO re-rating, dilution, or execution issues.
- The current price action might just be a dead cat bounce before another drop.
i found frmi on my screener a while back when it was just getting absolutely destroyed while everything “ai” was ripping. kinda stood out to me because it was moving opposite of the whole hype trade
I put in a little at 5$ and wish I did more but i still don’t really get what actually drove the selloff. was it just an overhyped ipo getting re-rated or is there something actually wrong going on like dilution / execution issues / guidance changes etc? i know they need customers but is it that hard?
also curious what people think the chart looks like at this point. feels like it tried to base out a bit but i can’t tell if that’s legit or just a dead cat bounce before another drop
not trying to push anything either way, just trying to understand the story better before i touch it again