Last week Sigma Labs Inc (OTCMKTS:SGLB) witnessed a strong bull ride but sadly closed the week on a low note. The share price on Friday declined 9.5% to close at $0.076 per share. The stock price pulled back on Monday only to give away gains of 1.38% on Tuesday’s trading session. The stock price declined $0.0012 to close the day at $0.0859 with share volume of 2.16 million.
Recently, Sigma Labs Inc (OTCMKTS:SGLB) announced that it will introduce the e-Manufacturing Solution product, M290 additive metal printer in month of April. Following the news, the share price of the company enjoyed a strong ride last week. The solution will mark three of the modules included in company’s PrintRite3D proprietary system. The objective behind PrintRite is to remove the need for post-production scrutiny and move the quality assurance procedure inside the production cycle, by utilizing in-process QA, or IPQA.
The latest announcement by Sigma Labs effectively heralds the much-awaited commercialization of its PrintRite3D system. The announcement had an apparent effect on the company’s share price, as the SGLB ticker took off big time and surged more than 55% in just three trading sessions. However, the jump in share prices prompted SGLB to enter into ‘overbought’ zone and Friday’s pullback was expected. Percentile moves of that magnitude in OTC stocks are rarely sustainable when the price rise does not take place slowly but happens overnight.
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Sigma Labs reported several delays on its path to commercializing the key product PrintRite system. The delays were largely to be blamed for the share price declining through in most of the part of 2014. It remains to be seen whether Sigma Labs will manage to halt its decline, now that the share price is back within regular trading zone, and maintains its remaining gains.