VJET and ONVO bringing the entire sector down today.
Remember, the $140 target was released when the stock was already trading at $130. That's only about a 9% premium and most upgrades suggest a price a full year out from when they are released.
Thus, I didn't consider it to be much of an upgrade.
VJET and ONVO both "jumped to the moon."
But now they're bringing the entire 3D sector back to Earth.
Anything below $120 is a very entry point for SSYS, IMHO.
Again, be warned. I help this stock and rode it up like the rest of us. But I'm now out.
I love the value proposition of the company, but there are entities out there that want to manipulate the stock lower. I'm not sure what the bottom is, but we won't hit it today.
My only concern right now is not to be tempted to "temporarily borrow funds" from my KERX holdings to purchase more attractive swing-tradable stocks. To do so risks being "out of KERX" at the worst possible time. So far, I've avoided the temptation.
Long and strong!
A Seeking Alpha writer under the pseudonym ("Alpha Exposure") might be at this very moment writing a "hit piece" against Organovo. Actually, the article may already be written; he may just be waiting for the appropriate moment to release it to Seeking Alpha.
I've seen this writer destroy stock prices of other companies. He recently Stocktwitted that he has a $1-2 target price for ONVO.
Do you plan to sell either right before or after the Japanese approval (assuming it comes) or will you hold all of the way through FDA approval (assuming it comes)?
This thing will probably drop .50 to 1.00 every month until approval in Japan.
So, we could see high 10s if approval doesn't come before the EOY.
Are there any other catalysts between now and then? What are KERX employees doing now? Just twiddling their thumbs and waiting for Japan and the FDA?
Actually, if you look at the historical reporting data, an announcement from Japan could happen ANY day now. I do expect it before EOY.
So, SSYS, sitting at about $130 gets a paltry 9% upgrade to $140, and the entire sector goes ape-sheet?
For an overbought stock in an overbought market, this is a rather pedestrian and paltry upgrade, IMHO.
But, irrational exuberance knows no bounds. LOL.