{"id":644,"date":"2012-06-28T21:56:17","date_gmt":"2012-06-29T01:56:17","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=644"},"modified":"2012-06-28T23:36:10","modified_gmt":"2012-06-29T03:36:10","slug":"organovo-holdings-bounces-back-after-dreadful-58-fall-onvo","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/organovo-holdings-bounces-back-after-dreadful-58-fall-onvo-644","title":{"rendered":"Organovo Holdings Bounces Back after Dreadful 58% Fall (ONVO)"},"content":{"rendered":"

Organovo Holdings (OTC: ONVO) hit the wall hard on June 27, 2012, falling a dreadful 58%. The company, which focuses on 3D bioprinting technology, had been having a successful June, reaching a high of $9.70 on June 18, 2012. This kind of sudden fall creates a disillusioned public. It begs the question, “Will the stock bounce?”<\/p>\n

On May 21, 2012 the company announced the appointment of Michael David as Chief Strategy Officer. David has spent a lengthy amount of time in the industry already. He was most recently an associate partner at McKinsey & Company, where he did work in equity, pharmaceutical, biotech and diagnostics. With such a track record, David appears to be a perfect fit for Organovo Holdings. However, a new high-profile member typically brings in the potential of risk. Can Michael David get the company to the next level? Does he have the experience in the fast-changing biotechnology market?<\/p>\n

Organova Holdings focuses on the developing of \u2018bioprinting\u2019. Bioprinting is the ability to create functional 3D tissues in way that the projections can be used for human disease research, drug discovery and the eventual therapies. The good thing for Organova is that their bioprinting technology has already established itself as a relevancy within the industry. In fact, many pharmaceutical companies have already begun using 3D projections to advance their own trials and testing. As reported by Reuters, <\/em>CEO Keith Murphy has his full support in David and believes his expertise can bring the company\u2019s products to a new level of success.<\/p>\n

All of this sounds very promising \u2013 so why the recent fall?<\/p>\n

There is always some \u2018silver lining\u2019 when a company\u2019s stock falls from such great heights. Usually, it means that either a) the industry itself is suffering, or b) a flaw in the technology or service has been unveiled and noticed by the public<\/p>\n

The good thing for Organova is that the answer isn\u2019t \u2018b\u2019. The company\u2019s technology has not been found unworthy and doesn\u2019t possess any obvious flaws. Moreover, the bioprinting technology is the greatest aspect and asset of the company. As noted in a report from www.stockreads.com<\/a>,\u00a0there is a strong likely hood that the stock will bounce. Considering the fact that in 2010 TIME Magazine<\/em> named the bioprinting technology one of the \u2018Best Inventions of 2010\u2019 and you can see the support and hype is there.<\/p>\n

On June 28, 2012 the stock bounded back up to $4.25, a solid 15%. To gain a better perspective of the \u2018flow\u2019 of stock that the company has experienced consider the following:<\/p>\n