You're buying into a common fallacy. Yeah, companies with tiny net earnings show huge P/Es. You can't take them at face value. You have to make plausible GUESSES at what the business will look like in some future snapshot to assign a value. And I admit that this isn't what Benjamin Graham would call 'investing.' Plausibly, Volcano has at least its present market share of intravascular sensing done in conjunction with a majority of invasive catheter procedures, with cardiac PCIs at least as common as the historical rate. And by that time, the cost structure is better, too.
Of course, one can't assign 100% probability to perfection, but it doesn't take an unreasonably high probability to put a floor under the stock price well above $10.
Dream on, read the Value Line report, in the next few years this is going UP. Another clue Goldman changed their opinion downward in the course of a month, probably to set up some of their clients for entry, maybe even explains price action today. Excellent long term entry point and will be well into the 20's
Price action was actually lame my friend. It tried to jump but was brought back down swiftly. There's a bunch of market makers targeting stocks like VOLC for when the market will pause. VOLC and others will then be impossible to defend because of their sky high valuations. $10 is a possibility if MMs starts going at it. Even lower.