Hey Rad, I diverted to Market Watch per your suggestion, to leave only a minor suggestion to possibly help deal with the frustration of sudden price fluctuations. Take a look over there, then come back here if you have a comment. Frankly while SIRI is so dormant, I'm sure others don't mind and can possibly benefit from some of this OT discussion......... and I personally would rather stay on one board as much as possible.............. at least until SIRI gets exciting.
Looks to me as though ONVO is taking its breather (consolidation break) around 4.96 to 5.01 or so. My wifey just looked over my shoulder, saw what it's doing, and told me to grab 2k shares for her. At first I placed her order at 4.80, then after noticing no dip below 4.96 for the past hour or so, I'm thinking that may be the floor for this consolidation phase. Given the signals mentioned prevoiously, I think (since it's her money), I'll move that entry point up near 4.96 (and hope to see it advance upward from there)
I agree, I THINK $4.90-5.00 is a new "floor" after a very big runup. Always a chance those freakin MM's are still reeling us in for the "final" dump, but I think it is over. Still lots of swimgs in this one both ways. A great traders stock.
I have read on the Yahoo organovo message board some people think there will be a dilution announcement soon and that caused the drop. Other say classic pump and dump. All kinds of opinions of course. They are trying to get listed in the NASDAQ from the OTC, and this article nicely shows how they are cleaning up the balance sheet.
Excerpt from this biotech showcase article,
Organovo (ONVO.PK) - Meeting with Keith Murphy . Kudos to Organovo for cleaning up its balance sheet at the end of 2012 through a stock warrant tender offer. I wrote back in December that the tender offer was designed to accomplish three key objectives: Clean up the balance sheet by removing the derivative liability; raise cash through the exchange of warrants; and seek an uplisting by moving the company toward qualifying under the minimum stockholder's equity and share price bid requirements. Prior to the tender, Organovo's stock was trading at around $2.15 per share and struggled every time it got near that $2.50 call ceiling from the company's bridge, investor and private warrants. Removing the warrant overhang has allowed the stock to freely trade above $2.50 per share. It stands at $3.25 as of the writing of this article. The key takeaway from my meeting with Keith was that Organovo remains squarely focused on building shareholder value and seeking an uplisting to the NASDAQ-CM. Moving to a national exchange could be huge for the stock in 2013.
OK, now I can relax about ONVO, the little biatch is settling down, and I now I have to think about Apple, my other big holding of my big three. Bought a ton at 485-490, rolling the dice for a good CC call today. Uh Oh, there goes my pulse and blood pressure again, this stuff is stressful! What a day!
I like when you guys talk about other stocks you're gambling on....I Watched ONVO tic down from $5 to $4.15 made a quick look at the chart bought some at 4.25 and sold at 4.80 in less than 20 mins! Great country this is!
Congrats. It swings a lot, keep an eye on it, been very very very good to me