Paul, it is very hard to say where this company is headed. There is always a great deal of risk investing in any development stage compan, and it is especially so with BIOC. Their balance sheet is weak, and if they need additional capital, they would have to sell more stock very cheaply, significantly diluting current shareholders. I don't even know how long they can maintain NASDAQ listings with the share price under $1.
On the other hand, there is only less than $1 to go on the downside, and there could be much greater upside. It is not very easy to study this company. Size is too small, no analyst coverage. I bought this stock at 6 following Michael Murphy's recommendation. (MM is the editor of California Technology Stock Letter). When the stock went down to 3, I followed his recommendation again and bought more. Since it was difficult to research this company, I was relying on MM for what's happening at the company. Turned out to be a disaster.
You said you bought it on technical grounds. I am not a TA, but the technicals of BIOC don't look good to me.
Regards,
Xingbo |
