KindlyMD sinks 55% as swing traders told to ‘exit’ ahead of volatility

KindlyMD’s shares dropped 55%, as CEO David Bailey said he expects an increase in share price volatility and has encouraged low-conviction traders to exit.

Shares in the healthcare-turned-Bitcoin holdings company KindlyMD Inc. halved on Monday as its CEO, David Bailey, warned of an upcoming increase in “share price volatility,” encouraging short-term traders to exit” if they’re only looking to profit.

“We expect share price volatility may increase for a period of time,” Bailey said in a shareholder letter on Monday, citing the firm’s regulatory filing on Friday registering a $200 million discounted share sale to private investors.

KindlyMD’s deal, called a private investment in public equity (PIPE) offering, raised money by offering its shares at a discount, and its filing on Friday allowed those investors to freely trade their shares.

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