Disclaimer: None of this is investment advice. The logic here may be bad and should not be relied upon. My assumptions may be bad and should not be relied upon. This post reflects my opinion. I may hold positions in securities I write about, and I believe in what I write.
First off, today’s trading was whaaaaaattttttt. Low volume and big drops. We haven’t restarted the 10 day streak, but after close, the stock price drifted back up to about 88c in normally meaningless after hours trading.
I have the same feeling from my prior post: This makes absolutely no sense to me. Really, zero sense.
As I’ve posted over and over, I believe this stock is worth $1+ or $0. Nothing in between.
And then today’s news that a guy named Todd Stewart Cox is now the holder (along with his wife Kathy Overstreet Cox) of 3,919,866 shares of EVFM.
But who is Todd Stewart Cox?
I did a cursory search to see if there’s any hedge fund manager by that name in Texas. No dice.
I did a search of all text on EDGAR since 2001 for different permutations of TODD STEWART COX. The only time this guy shows up is from today’s filings.
The best I could come up with is that he’s an elder in his church and is involved with Sacred Selections adoption agency(?) that promotes adoption as an alternative to abortion.
Is he pro-contraceptives? Is that why he’s taken a 9.29% chunk of Evofem? Does Evofem’s tech qualify to Todd Cox as something worth promoting? Is he just a businessman who identifies Evofem as the next big thing and feels like he might as well make even more money?
I do not have answers.
My hope is that he’s just a dude who is in favor of what Evofem is doing. I can’t imagine that he bought millions of shares just to watch the company go belly-up.
I just find it bizarre that a virtually unknown would take such a large stake.
Meanwhile, today I averaged down from 90c/share to 89c/share.