to answer your question, it was Dec 21, 2010 when it closed at $6.12. The last time it closed above $10 was on 7/26/2006
Including low volume. It's as if approval didn't happen and was never even a possibility. I don't think it will change unless and until we see execution and earnings from the US. I'd love to be proven wrong.
Possibly, but it traded 2.5 M shares yesterday so somebody got the news. If the EPS follow surely the market won't ignore that.
FDA approval has been greeted like it was poison - baffling! Of all the people who follow EDAP, I'm sure that exactly zero of them expected this reaction. I guess the market wants to see the money in EPS terms.
The PR guy told you EDAP is willing to talk to big pharma about what? Being acquired? I think speculation on EDAPs future plans is a bit of a stretch for a PR agency.
I think it's bearish in the short term. Competitor is first to market and EDAP will now attempt to ride their coattails. Assuming ultimate approval (still not a done deal), EDAP success will depend on execution and quality of the product. Execution does not seem to have been a strength in the past.
Wall Street doesn't know SonaCare or Edap exist. The market cap of EDAP wouldn't buy a hedge fund manager's residence in the Hamptons.
I think it will blow well past $10 if approved, and quite possibly before any FDA news. The danger is we won't have any preliminary indications, as we did prior to last year's panel hearing, and thus no opportunity to take profits before the news. If the news is bad, we'll be back in a gloomy reassessment period of unknown duration. Best advice is probably to unwind positions gradually if and when the price reaches an acceptable point for each investor.
You have to remember that the price runup will be based more on emotion than ultimate value. There are endless examples of stocks, especially medical device/biotech, spiking to dizzying levels on big news. It will be quite a long time before anyone knows the true value.
This is where it gets a little nerve wracking. It could run to $15-20 before any FDA news (it ran to $22 in 2006), so the temptation to sell will be very strong. Or - wait for the news and hope it is good. I'll do the latter unless it runs to $30 or more pre-FDA. If FDA news is bad, of course the stock will get hit hard with no warning.
Market cap is increasing because the share price is increasing. It's still very very low.
Better still, they need to eliminate the press conferences altogether. We have a whole news industry engaged in speculating on the Fed and the Fed hasn't done anything for a decade. Stll free money and we have no idea what the correct price of anything is.
Could spike to $40 or more with approval. That would be market cap around $1 billion. Would probably retreat to $15-20 or so in time and with the inevitable secondary offering. Very hard to predict.
Just an observation - in the runup to last year's FDA panel meeting, we had a 'date certain' on which the news was scheduled to break. That allowed people to enjoy the advance to $6 or so and then take profits up until just before the meeting date. We don't have a date certain with De Novo. If the news is bad, the stock will get badly hammered - with no warning - probably down 75% or more. May be worth looking at put options to protect long positions.