Although Illogically blaming the slight, late price drop on a lack of confidence on the part of a big investor is not based in reality, there is reason to be concerned about share price going forward for a while.
As has been mentioned here before, by me and others, there is going to be a drop off in volume as the mutual funds and ETFs matching the Russell indices taper off their buying. Although shares will be tightly held by longs, it is much easier to push around the stock price of a smaller company like NNVC with tightly held shares when there is lower volume. It may be a roller coaster ride.
I think the inclusion in the multiple Russell indexes will help stabilize the price a bit. If the general market (and small caps) goes up, there will be creation of units for ETFs and mutual funds which will buy NNVC stock and help NNVC go where the market goes (and vice versa).
But the milestones to come in the near term are delayed and less likely to act as a surprise upward catalyst on the share price.
As nice as it is to see a Certificate of Occupancy, it was not the Equipment and Process Validation nor the start of Regulatory Toxicity I was looking for. And I am beginning to worry that the company will wait for some product from the new facility to use to complete the Toxicity testing - and worse, maybe not start this round of Reg Toxicity testing until they have some of this material. (NOTE: the company never communicated this - it is my own speculation.)
That could potentially set back the timing at least 6-9 months for Tox and Clinicals. I really hope I am wrong on this point.
I am anticipating we have seen a short term top in the share price (knowing I could be wrong).
I have sold a fair bit of my shares in the hopes of buying back again later at a lower price.
I still see the company, the technology and the stock as a good long-term investment.
