After a brief fling with pushing through the $4.50 barrier, ONVO has dropped back and is now closer to $4 than $5. I think its essential for investeor confidence and Street "cred" that ONVO not penetrate the $4 benchmark.
As we've qickly observed witha stock like ONVO, one panning article can douse out the hoopla of ten positive stories. Seeking Alpha seems to have more opinions, both positive and negative, than your average Talk-Show radio host.
It has become pretty clear that it will more than likely be a decade or more before ONVO'S TECHNOLOGY CAN BE A PROVEN SUCCESS. Have no idea whether or not they will get there, but it's safe to say the journey will be fraught with lots of bumps in the road.
If we do back off and pierce $4.00, we might see $3.50 or lower. Volume has dropped significantly over the past month. Like I posted about a month ago, I think ONVO will trade in the $3.50 to $4.50 range for the forseeable future. Long-term, if you can pick up additional shares below $4.00, I think you'll sell those shares at a profit some day. But folks looking for a quick return to a $10+ pps are going to be in for a long wait.
Not a good sign that we broke through the $4 barrier with such ease. Probably going to continue the downward trend until ONVO reaches a "comfort level" where a majority of investors might perceive it as a bottom. Pure speculation on my part, but I think any pps under $3.50 whould bring buyers back into the fold.
I say speculation because there is zero to less-than-zero news coming from the company. Really, how can anyone intelligently determine if they should be buyers or sellers with so little news to go on? All we have is a good story about the possibilities of manufacturing brand new body parts to replace the old and/or defective ones. Great as the storyline is, sooner or later it's going to get stale unless some significant news is released by ONVO that gets everyone's blood pumping again.
Finally, the sizzle in the steak is about two years old now without any of us enjoying a mouthwatering bite. Two years. Went by quickly, didn't it?. That's why I agree with some articles that suggest it'll be a decade or more before we see concrete results contributing to the bottom line. But if ONVO can deliver, it'll be well worth the wait for those who are patient.
Not real puzzling that ONVO has now dropped below $3.50. I, for one, believe most of the panic selling (if that's what been going on of late?) should be just about over. In truth, I don't envision ONVO going below $3.00. Might take a pps below $3.20 for buyers to support the stock at that level.
Unless someone scientifically disproves ONVO's technology, or a government body implies what ONVO is attempting to do too closely resembles illegal cloning, the story will continue to have shelf life.
I'm gonna add to my position if this puppy drops into the low 3s. Finally, please no more talk about the MMs trying to screw us. Stocks go up when there are more buyers than sellers, and vice versa. Right now, we have more sellers, so the price is going down. True, the MMs have price input, but their influence rarely exceeds a few pennies one way or the other.
Waiting is the name of the game here and patience is essential. I've been holding through all the $2 times and that patience has already paid off. I expect if I continue adding on dips and holding, one day it will again pay off. But I disagree that it will be a decade or more before their technology is a success, keep in mind there are many more applications for bioprinting than fully functional vital organs. As it becomes more apparent that some of those applications are only a couple years off, I expect to see the pps rise accordingly.
The "decade" before fruition is a bash, as Red is clearly trying to spread fear, uncertainty, and doubt (FUD), to sway the price action his way for the short term. Many believe that now is the dawning of the age of 3D. Red is sitting on a bomb and trying to get other short sighted peeps to hold his hand as the fuse hisses. Being short with an uplist on the horizon along with any breakthrough or partnership announced will be very painful indeed friendship.