After dropping from its previous yearly high at $0.23 and putting brakes on the slide 5 cents lower, the share price of Sigma Labs, Inc. (OTCMKTS:SGLB
, SGLB message board
) revved it up again and managed to hit a new 52-week high yesterday. The ticker picked up significantly in share volume and closed the session 15% up, stopping at $0.24 per share.
The move comes as what may be a natural bounce for the stock. There have been no new PR releases from the company for over a week and their last filing is their quarterly published on Nov 14. The 10-Q may have been the catalyst for the previous surge in price as both volume and price action picked up on the day it was made public.
Investors appear super excited about the 3D sector in general and SGLB in particular. Discussion boards are swarming with supporters who appear ready to bet the farm on the ticker. There are of course those who are keeping a more sober outlook on the company and keep reminding that while Sigma has the potential to be huge, it may be better to wait until they deliver on their promise of commercializing their product in 2014.
Only yesterday CNBC's Jim Cramer came out with a rather negative stance on the 3D industry as a whole, calling it a poster child for 'overvalue' and labeling the sector a 'bubble', with analogies made in the studio to the dotcom bubble. While this view on things may seem a bit radical and has angered a number of SGLB supporters, it may indeed be wise to exercise caution and plan any moves in the sector carefully.
SGLB is a long way away from many OTC tech startups, generating revenues and making a splash in a sector that some analysts have great expectations for, so in the end it boils down to the usual risk-reward play. It's not unlikely that SGLB retraces back down after hitting this new high and longs will be hoping the ticker manages to keep pushing back up against every drop.
Other companies that shifted significant dollar volume yesterday include Medical Marijuana, Inc. (OTCMKTS:MJNA) who closed red again, dropping another 7% to the ticker's lowest close in eleven months. Fresh Healthy Vending International, Inc. (OTCBB:VEND) slipped nearly 14% to a close at $2.60 per share.