Is there a reason why bfri would drop instead of raising in price after FDA approval Friday

The decline in Biofrontera's stock price from September 27 to October 4, which coincides with the FDA approval weekend, suggests that the market may have reacted negatively to the news. This could be due to various factors such as:

1. Market Overreaction or Delayed Reaction: The market might have initially reacted negatively to the FDA approval, possibly due to concerns about the company's future revenue growth or the competitive landscape for the approved product.
2. Financial Performance Concerns: The company's recent financial results, such as the net loss and revenue decline in the second quarter of 2024, could have led to doubts about its ability to capitalize on the FDA approval.
3. Low P/S Ratio and Market Perception: The low P/S ratio of Biofrontera, which is significantly lower than the industry average, might have raised questions about the company's valuation and its ability to meet growth expectations.
4. Lack of Positive Earnings or Revenue Projections: Despite the anticipated revenue growth, the lack of positive earnings projections or specific revenue growth forecasts beyond the anticipated 24% per year might have contributed to the market's skepticism.

In conclusion, the drop in Biofrontera's stock price post-FDA approval could be attributed to a combination of factors, including market overreaction, financial performance concerns, low P/S ratio, and lack of positive earnings or revenue projections.