Have We Found The Bottom?? BNGO

NASDAQ:BNGO   Bionano Genomics, Inc.

Wow...What a tremendous day for BNGO. What's causing this sudden price spike? Are Investors pouring back into the company? Are we seeing a pump? BNGO has been oversold since November 22, 2021, finally it appears that the bleeding is over. Now investors should not get to excited, with the steady decline over the last 8 months, this could just be a green day, and the trend could continue. This could be institutions bull trapping investors. We will know tomorrow if this is the start of a trend reversal. FDA approval could be excellent timing to see an end of the year run, bull sentiment is up 1.28% according to StockTwits.

I believe BNGO has faced manipulation, for this reason it has been down in the dumps. As I have always said, everything in finance is fairly priced, and companies stocks will eventually match that fair price. We must understand that the company needs to boost their revenues to sustain long term growth (as mentioned in my previous article), but I believe a time frame of 3-5 years will be bright for the company. With interest rates hiking in 2022, growth stocks may see a decline. This market has many odds stacked against BNGO, but the company has strong financial background, and a revolutionary product. If it can withstand the beatdown, it will fly.

Current Options Positions
Short Calls - Strike 5.00 @ 1.21, 21-01-2022
Long Puts - Strike 2.00 @ 0.05, 21-01-2022
Short Calls - Strike 6.00 @0.21, 21-01-2022

Current Stock Positions
@3.70 - Most recent addition
Average Price: 4.3425


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