Sigma Labs, Inc. (OTCMKTS:SGLB) Shifts in Reverse
A three-day streak of green sessions for Sigma Labs, Inc. (OTCMKTS:SGLB) came to an end yesterday, as the ticker reversed its movement. SGLB dropped nearly 9% on 6.6 million shares traded, to stop at $0.13 per share.
The press release published by the company did not help the price movement much. SGLB announced its CEO, Mr. Mark Cola, will take part in a panel at the Additive Aerospace Summit to be held next week in Los Angeles. The conference will deal with the participation of the 3D printing industry in the furure development of the aerospace industry.
The news did not stop people from selling enough SGLB to send the price almost 9% down. It seems the pattern from the previous jump is repeating, with three green sessions of increasing climbs followed by a pullback. Last time the shrink lasted just one day and SGLB recovered before wiping out the gains made during the green run, then stabilized and pushed up again.
Hopefully the ticker will manage to balance it out again without any further drops. Sigma is one of the popular 3D printing OTC stocks and appears to have a strong and devoted following. While the potential is there, the company will need to fully develop its technology into the commercialization stage and start generating revenues from that, and not just from services, as it has been until now. With an expected commercialization date before the end of 2013, it remains to be seen whether SGBL will deliver.
Other significant volume movers in yesterday’s session include Globalstar, Inc. (OTCMKTS:GSAT) who turned green again, closing 3% up. Titan Pharmaceuticals, Inc. (OTCBB:TTNP) were less fortunate and slipped nearly 16%, down to a close of $.90 per share.
