And why is hook going down

HOOKIPA Pharma Inc. (HOOK) is experiencing a significant drop in its share price due to a combination of factors:

1. Financial Performance: HOOK reported a net loss of $19.1 million for the second quarter of 2024, which represents a widening of the loss from the previous quarter. Additionally, the company's revenue of $1.29 million for the same period fell short of analyst estimates by 81.81%.
2. Revenue Growth: Although HOOK has shown impressive revenue growth in the past, with a 228% increase in the last year and an overall rise of 162% in the three previous years, there are concerns about the sustainability of this growth. The company's revenue is forecasted to contract by 11% per annum during the coming years.
3. Investor Sentiment: The drop in HOOK's share price can also be attributed to investor sentiment. The company's P/S ratio is low, which suggests that investors may have lower expectations for future revenue growth. Additionally, the recent negative earnings and revenue growth may have contributed to the decline in investor confidence.

In summary, HOOK's decline is likely a result of a combination of its financial performance, revenue growth concerns, and investor sentiment.