Bruce,
Now today was sinking to the depths and pulling back, although only partway:
quote.yahoo.com
Struggled back to @4 1/2 by @2pm and volume just slowed down at that point for the rest of the day while hovering in that area, like in a wait and see mode as to which direction the price will go next.
At today's 3rd annual Orthopaedic Tissue Engineering meeting, ATIS presented an update on their human cartilage growth(Dr. Ronda Schreiber) and on equine(horse) models. For the most part, good solid fundamental progress, but nothing earth-shattering in immediate terms, so it doesn't look like anything to affect today's stock price all that dramatically. Nevertheless, it is good solid fundamental progress...I'll repeat again....for long-term progress.
The stock definitely is seeing its share of action at the moment. I still think there is more than meets the eye, even the rumor from friday may or may not have merit.....either news of some kind will be out by morning or by wednesday night next week(if next wednesday meant this) if there is any accuracy, which can be looked at any way anyone likes. Still, I don't see this move totally coming because of the suit being dropped or today's meeting(at least with announcements thus far), and it didn't just start moving for no reason. It will be interesting to see how the trading pattern continues for the moment, especially if volume begins to slow a bit(as it has been). At 4 1/2 there is room either way still, although it gives the impression that there is still an upward bias even with some persistent selling at times, and new trading ranges(for the short-term) are developing.
Time will tell. Have a good thursday.
Marshall |
