Sigma Labs, Inc. (OTCMKTS:SGLB) Still a Roller Coaster Ride
Yesterday’s session pressed the share price of Sigma Labs, Inc. (OTCMKTS:SGLB) a tad lower, bringing it to a close of $0.22. Volume was even heavier, with 11.5 million shares changing hands. Is SGLB now poised to bounce?
The ticker was immediately pressed down after the opening bell but once it bottomed near $0.21, volume brought it back up. SGLB undulated further during the session and after another afternoon dip finally managed to recover to $0.223 per share, nearly 6% down.
The company is so far following the pattern it charted starting mid-November, when descending from its previous 52-week high at $0.235. After dipping over two sessions, SGLB revved back up and logged new yearly highs. The last two sessions more or less mirrored the last drop, with decreasing percentile movement. It remains to be seen whether SGLB will pull itself up by its own bootstraps and push to new highs, but chart lovers will probably find a lot to like about the current setup and volume is still heavy enough for the ticker to manage a bounce.
Traders are looking forward to a potential Friday announcement of the America Makes research project winners who will be splitting up a total of $9 million in grant money. SGLB has previously been part of an award winning roster of researchers and traders are keeping their eyes open for more good news.
Still, caution is advised as the long-term success of SGLB is not a given at that point. The company is making strides to becoming an authority when it comes to in-process QA but its PrintRite system has not yet been adopted by a major company. SGLB expects to commercialize its products in fiscal 2014 but it remains to be seen whether traders’ dreams of General Electric picking up Sigma will come to fruition.
Another highlight of yesterday’s session was 3D printing company Makism 3D Corp. (OTCBB:MDDD) who thundered nearly 42% downhill as the pump targeting the stock lost its footing. The initial day of pumping managed to lift MDDD just 2% and generate sufficient volume for yesterday’s sell-off that squashed the price.
