I bought Tristel in July 2016 for 132.76p and sold it just before the end of June 2020 at 430.00p. It was my best performing share to date unless you want to take into account Fundsmith!
I was a reluctant seller as I always believe you should run with your winners and cut your losses. It had an amazing recovery to after the Covid-19 crash in such a short space of time. In fact the share price exceeded the highest point before the crash and then went into a steady decline. It seemed to me that the confidence in the share seems to be waning. I suspect that the thorn in the thigh is the snail pace progress in the attempt to enter into US market. After a disastrous attempt to go alone, Tristel decided to partner with a large US pharmaceutical company in an attempt to fast track and break the deadlock which is predominantly around the FDA approval. Even if and when they achieve that, Tristel still have to apply for State approval as well. To date none of this has been achieved. This has been ongoing for at least 3 years and several million pounds of the companies cash.
The only caveat now particularly, as the pandemic worsening, is if the FDA fast-track to allow a powerful bactericide and virus killer to be sold to the health establishments in general, then I may be a buyer again. I am skeptical because of the Trump administration’s policy of “Buy American Products” which in the short term may put the breaks on that. A change of government may help. Who knows?