The reason it is dropping is because buyers are not doing their research. This is a 3-D company, and unfortunately, taking a hit like the rest of them this week. But they are in a special sector, they provide equipment, and cells for pharmaceutical testing, a very unique position. Their product is going to make the difference of a company taking 3 years to test a new drug, to perhaps months. This is due to the ability to provide this unique technology. A pharmaceutical companies already pay billions (average is 50 billion) to test their products. Onvo is in a position to get a faster turn around from testing, to market. and likely get a cut of revenue for years, from these companies. The service they are providing will allow a high revenue with minimum outsourcing with is ideal for a long term investment and growth. Hence why they called in all their warrants, they are ready to move forward and get out of the pink.
The 3D printing sector is struggling. Talk of a "bubble". Also, added pressure from the warrants.
Broke through major technical support earlier in the week. Next really strong support is in the low two's.
Any piece of good news would trump the TA and send it higher.
I own no shares and am not encouraging anyone to sell. However, the stock price is in a very dangerous "no man's land" right now.
If you are long with a REALLY long time horizon, then relax and stop reading this board.
If you are a speculator, you are taking a big risk with your money, both on the buy and sell side.
Everyone on this board should be following the company's cash position closely. Dilution is a way of life with these small companies.
I am ready to go long if the company drifts down into the 2s in the absence of really bad news.
I would also consider buying if the price breaks above 4 on strong volume.
Too much uncertainty now.
Dear Julian........Thank you for your "level headed" response to the board. As you well know, there are plenty of "opinions"(?) and what I also like to call: "short term profit geniuses".
I won't go into any detail as I suspect you are smart enough to read what's written here and can determine who really knows what they're talking about and those who "think they know.........what they're talking about".
I think you basic premise is accurate: Buy for the long term. However, speculating now with the warrants expiring and trying to "catch the Organovo wave" would be very risky.
That being said, I've done well but have done so by not being greedy. I'm currently out of this stock but plan to get back in once things settle down. I'm no self proclaimed "genius", merely someone who does his homework and yet there is no guarantee that I will be right.
I am paying attention to this stock once again as now that the warrants have "officially expired", the stock price is at roughly $3.50 which is where I expected and hoped it would be. Not without uncertainty, I suspect the stock will try to establish some kind of "base" between $3-4. It would be foolish to try and trade this stock for short term gains.
I plan to let the stock "tell me" what to do. If the price goes down, I will double my position. If the stock goes up....I let it alone. However.......if the stock runs up too quickly (as you no doubt very well know can happen), it's time to take profits and wait for the stock to correct itself.
Right now, I'll continue to watch and wait and look for an entry point that looks right.
Best wishes and continued prosperity in all your financial endeavors..........Philip
Today was a great example of an emotional market play. Emotion is great because its often easy to identify once underway. It took me a couple of days but once I realized the drop and increase in volume was due to the perception of warrant calls, I sold 24,000 shares a few days ago for a small profit & re-bought 27,000 shares today at $3.31 for the same price. The continued fall today was predictable, as is the future increase on improved revs (should be released by the end of the month according to CFO). The fact that the warrants are no longer an issue can only bolster and increase in rev. I will continue to add to my holdings whenever I can, as my research & confidence in this management team are worth it to me personally. My only word of caution would be that the bubble is not confined to the 3D printing industry - I agree that it exists - but the entire stock market is being propped up right now with QE X. It's a dangerous time to be in the stock market, period. I'm in this one because I believe the upside potential is greater than the downside risk based on ONVO's current relationships and cash standing, lack of debt, growing portfolio of patents, and leadership team. I'll post an email I received from ONVO's CFO here shortly.
Sentiment: Strong Buy
equally as hard to find news justifying any price over .20 cents. i make more money than this company, and the 3d bioprinting market is CLUTTERED with researchers doing the same thing these guys do. i don't think people have really thought this one through, it's a freaking scam.
brunopuno- Certainly, the fact that ONVO got its pinnings in real estate development and not science, would lead some to scream, "Scam!". Once the warrants expire, and maybe some low-priced stock options as well, I'll be curious to see what kind of insider buying or selling takes place.
If the insiders who got free warrants and cheap shares opt to take profits at or near the current price, then I'd be worried. That would tell me their vision for the compant is far less than what has been touted on this board.
Either way, ONVO is a pure speculative play at this point. Aside from a compelling story, there isn't anything solid to sink our teeth into.