NNVC seems to have found itself in a consolidation between about 90 cents as support and 1.20 as resistance. We continue to monitor all things bird flu for which the Internet in general and Google in particular have been incredibly useful. We have also maintained our correspondence with NNVC's management via numerous back and forth e-mails.
Back when we first became shareholders of NNVC, circa 10 cents a share, we felt the risk/reward assessment of the company was very highly in our favor. The market cap was low and there was no interest in the stock, even though it was a bird flu play. No one knew about it, yet. Now at over $1.00 per share, we feel the risk/reward is less attractive and we have less of a feel for which way this stock will move. Many of the other bird flu stocks we have been following have leveled off, though they do trade with great volatility.
NNVC has been receiving a lot of new investor attention and bird flu concerns are increasing at an exponential rate. Our questions to management are now are based on some very specific, science-based issues -- which have not been adequately addressed -- though we are still trying to get more specific answers. It may be that the answers to our questions would be inconsistent with the longer-term viability of NNVC as a biotechnology investment.
Although I am keeping most of my NNVC shares for now, I am taking some off the table above $1.00 a share and would even consider adding more under 75 cents, if it were to fall that far.
Bottom line here is that I'm a little less certain of NNVC then I once was and want to express that new sentiment to my readers, many of you who are watching this stock as closely as I am. If NNVC reaches my $10.00 target, I'll still do fine. But if it is going to drop back under $0.50, or worse, it would be nice to have had some NNVC cash off the table, to throw back into it, or even something else, as circumstances dictate.