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Why Organovo Holdings, Gogo, and National Bank of Greece Tumbled Today

For those investors who feared further losses after last week's declines, Monday provided some relief, with major-market indexes rising almost 1% on the day. Positive news on the economic front helped to bolster investor confidence, but it did little to help the shares of Organovo Holdings (NYSEMKT: ONVO  ) , Gogo (NASDAQ: GOGO  ) , and National Bank of Greece (NYSE: NBG  ) , all of which fell sharply on the day.

Source: Organovo Holdings.

Organovo Holdings declined 14% on a tough day for many 3-D printing stocks generally. Increasingly, momentum-driven investors have been skeptical about Organovo's long-term promise, especially after last week's comments from CEO Keith Murphy that threw cold water in the face of those who expected the company to print entire organs from scratch. But from a medical perspective, the idea that printing a relatively small amount of organic material but tailoring it to work with the patient's own cells and body to develop more compatible organs makes plenty of sense. Even with today's bounce in the stock market, many speculative stocks still face the challenge of convincing their shareholders that they can survive for the long haul, and that's a contributing factor to Organovo Holdings' decline today.

Gogo fell almost 8% as investors apparently reined in their enthusiasm about recent deals that the in-flight Internet service provider made with key partners. Last week's news included a new partnership deal with Canada's biggest airline and a technical services agreement with aircraft manufacturer Boeing to evaluate adding in-flight Internet technology at the production stage rather than waiting for retrofitting already-manufactured aircraft. Yet ever since offering disappointing guidance for the coming year in its earnings release early last month, Gogo shares have struggled to keep altitude. Despite the prudent strategy of investing growing revenue into expanding its offerings, Gogo might decline further even if it keeps delivering good long-term prospects for its business.

National Bank of Greece dropped almost 15% after the Greek bank decided to do a secondary offering of shares in order to improve its capital position. In order to comply with the terms of the Greek bailout, National Bank of Greece will have to raise more than 2 billion euros in capital. The disappointment among shareholders comes from the fact that it had said earlier that it would not issue new shares to meet its capital shortfall, and with the offering, the specter of dilution will weigh heavily on National Bank of Greece's shares. The news highlights the fact that even though prospects for the Greek economy have improved -- the nation was able to sell five-year sovereign debt at less than 5% interest recently -- Greece's fortunes won't necessarily lift those of National Bank of Greece, or the rest of the country's banking sector.

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  • Report this Comment On April 14, 2014, at 10:44 PM, randysandy wrote:

    Thank you Dan for giving us your insight on Gogo. Your comments as to claiming to know why Gogo went down today and how it will just keep going down is attest action to the fact that it is time to buy. If Gogo were to go up, you would say such positive comments, that it would be time to sell. You truly represent the definition of capitulation and I thank you.

  • Report this Comment On April 14, 2014, at 10:45 PM, randysandy wrote:

    "attest action" was meant to read attestation

  • Report this Comment On April 15, 2014, at 3:42 AM, SuperAqwer wrote:

    This article was written just to attract the readers and increase the #of clicks? NO real reason was given why gogo went down. The author should be writing for kids not mature readers.

  • Report this Comment On April 15, 2014, at 7:53 AM, randysandy wrote:

    Dan: stick to doing wills

  • Report this Comment On April 15, 2014, at 10:28 AM, TMFGalagan wrote:

    @SuperAqwer - I'm not sure what you mean by a "real" reason. You won't always find obvious news items that are catalysts for stock movements; sometimes, it's a combination of factors that appear to drive investors to make decisions that affect share prices.


    dan (TMF Galagan)

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Dan Caplinger

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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