SynBiotic investors have been whipsawed by a pair of conflicting signals this week. The cannabis company’s stock climbed 6.3% to EUR 0.2275 on Wednesday, a day after it had dropped 4.4% — a reversal that has more to do with the thin flow of verifiable information than with any change in the company’s underlying situation.
At the heart of the uncertainty is a filing that has yet to surface in any official record. SynBiotic announced roughly two weeks ago that it intended to apply to the Amtsgericht Münster for insolvency proceedings over its own assets, and said it expected a preliminary insolvency administrator to be appointed. As of October 21, no public court ruling concerning the company had been issued,…