In December 2014, I wrote NXT-ID's Mobile Bio Wallet Sales Will Disappoint. At the time, NXT-ID (NASDAQ:NXTD) had a market cap of $57m. Today, it's about $21m.
Quite honestly, the destruction of wealth was as easy to predict as the failure of the Wocket itself. NXTD had zero experience launching a consumer electronic product, let alone one where it had to create an entirely new category around. The failure rate of companies attempting what NXTD is trying to do is probably a number between 99% and 100%.
So, my call on NXTD wasn't particularly impressive.
Given the failure rate of building an entirely new consumer electronic brand being so high, you can imagine how alarmed I was
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