$BP premarket dumped from around $1 to $0.38 in a month.
That already looks bad before TGE.
Implied FDV on the screen is around $376M, and the market is clearly cutting expectations into launch.
After the market already saw a weak $OPN launch, this dump looks even uglier.
$OPN debuted around a $450M valuation and then got hit by heavy selling fast, so the setup looks pretty close to where $BP is sitting now.
If they are already dumping price this hard before TGE, launch can get even dirtier than Opinion.
That’s exactly what I’m worried about.
How much do you think $BP point will trade at?