Around twice a year, we check in with shares of a small company called Harris & Harris. It lets us monitor one of the biggest potential uptrends in the world: nanotechnology.
Nanotechnology is the science of manipulating matter on an extremely small scale… as small as an atom. It holds the extraordinary promise of turning lumps of coal into diamonds… building tiny machines that can clear out blood vessels… or turning toxic waste spills into pristine lakes. As investment "stories" go, nanotech is about as good as it gets.
Harris & Harris is one of the few pure stock plays on the nanotech story. H&H doesn't make nanowidgets or provide nanoservices. It simply funds start-up nanotech companies. The imaginatively named Nanosys and NanoGram are among its investment holdings. H&H even has the ticker "TINY." Thus, TINY rises and falls with how well the nanotechnology story is translating into real investment gains.
As you can see from today's chart, the nanotech story is in a bear market right now. Harris & Harris is down 31% in the past three months and just struck a new 52-week low. Folks aren't interested in paying up for nanotech innovation these days. We're sure this story will eventually be on the pages of every financial magazine you can think of, but for now, it's rough going for nanotech.
No comments:
Post a Comment