The key long term non-operational issues are (1) the PMA approval which has a horizon of the end of 2014 (2) the class action which probably has a similar horizon (no telling but the docket in the District of Mass. is pretty slow) and (3) the U.S. Attorney investigation, which has no discernible timetable, but which will probably resolve by the end of 2014. In the meantime, expenses will be very high as a result of these matters and profits will be artificially depressed - pure profitability at this point is really beside the point though. For long term holders, a focus on these three matters and operational issues relating to the ramp-up is proper (revenue growth, product diversity, geographic expansion, etc.). If the 3 non-operational matters resolve favorably, ABMD will get merged into a larger medical device enterprise. But until then, it's a bit of a holding pattern. An interesting holding pattern though. Never a dull moment with Minogue.
We will soon see. I too was surprised it didn't tank at the end of the day. However, it may take some time for the investment community to digest the info, so I expect to see a pull back from here, and some sideways actions for a while. But, if it goes up I'd be fine with that too.