The long-awaited announcement about warrant redemption and a possible clearing the way for a NYSE listing has been met with ho-hum enthusiasm from the Street. As I write, only 33,000 shares have changed hands. I was certainly expecting a lot more than that. Nice that ONVO is up .08, but that just falls in line with what I posted earlier: i.e. ONVO might be up a "bit" based on the news.
However, that news has proven not to be the charged elixir many had predicted it would be in their earlier postings. Now that the warrants are gone without much fanfare, I agree that a lot of folks are sitting on the sideline with ONVO waiting to see exactly what the former warrant holders do with their newly accumulated common shares which they exercised at the super low price of $1.00.
But any thoughts that retiring the warrants would send ONVO surging back over $6 and on its way to $10 have certainly been dashed. Disappointing that the only real news we were hoping to get actually came to fruition but didn't have the effect on the pps that we hoped it would.
There is an article on YAHOO! (check news on ONVO) implying that Organovo is a stock to watch. There was another stock mentioned (ALSO.OB) in a totally different field. The news gave a "pop" of 20% but look at the chart and beware!!!!
Imo, Organovo (by analogy) is like a stew. It will take time before it's ready and can be served. In the meantime, like any "Stew", it needs to be adjusted for seasoning and so consider yourself one of the lucky ones who is aware of the company before the next wave of people catch on.
I am currently out of the stock and think it needs to consolidate between $3.50-$4.50. The fact that the volume is somewhat tepid is a good sign I think. It needs to build a base........ But who knows? One announcement and the stock could be off to the races once again.
I think the eventual listing won't run the stock much either but once it gets listed and companies who can research and recommend it to their clients.........then you'll see it's stock price surge.
Ultimately..I think that this company gets taken over by a larger company and I expect it to be at about $1 billion or roughly $20 a share. No guarantees but wouldn't it be nice?
Maybe it was widely expected and not all that surprising. Like you said, the market hardly reacted and the volume is very low. Doesn't seem like the news is really news to anyone. This is definitely not the driving force that will send the pps back up to $6 range. Since the stock hardly reacted to the announcement of partnerships with Knight or Zenbio, perhaps the only thing people really care about hearing next is the renewal of a big pharma partnership.