Roughly 5 months ago, we mentioned how Solos Endoscopy (SNDY) and Forbes listed Billionaire Dr. Philip Frost, who is worth around $2.3 Billion, were connected. SNDY stock is now half the price it was then even with Thursday’s continued momentum from the announcement two weeks ago that the Company now has the capability to provide 45cm instruments for use in weight-loss surgery. Apparently eating carrots instead of ice cream is boosting Solos as a supplier since its easier to get your stomach stapled than to join a gym.
They say size matters and, since the Solos endoscopic instruments range from 32 cm up to 45 cm, and can be customized with a variety of handles, the penny stock may need a GI Joe kung-fu grip to keep hold of the recent gains.
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SNDY Stock Chart
Close: 0.0081, up 0.003 (58.82%)
Volume: 46,752,897
Dollar Volume: $313,111
Open: 0.0054
High: 0.0083
Trades: 304
Average Trade Size: 153,792
Updated August 2, 2012:
Shares Authorized: 950,000,000
Shares Outstanding: 608,064,365
Float: 592,722,870
Medical equipment doesn’t necessarily requires FDA approval in order to be used in the medical field. Solos Endoscopy’s instruments are FDA approved which obviously adds some glitz to the glamour and why the likes of Frost are involved heavily as long-investors. The fat gains in recent weeks can be directly connected to the fat clientele that doctors are having to deal with in today’s medical practice.
The enlarged girth Solos now supplies for use in weight-loss surgical procedures is a direct adaptation due to the complications following surgical treatment of obese patients which can be as high as 40%. The Company states that since surgical volume has increased, improving the safety of these operations has become a high priority, leading to the development of new instruments which all meet FDA guidelines for safe and effective bariatric surgery.
While people continue to get fat and Solos enlarges their product range, the shares themselves are getting thinner with over 100 million shares added to the outstanding shares in the last 3 months. Likely this is the main cause of the shares slide from 0.0243 in late March.
About SNDY Stock
Solos Endoscopy, Inc. is a HealthCare instrument company whose mission is to develop and market high quality and innovative instruments for the screening, diagnosis, treatment and management of medical conditions.
To view the list of SNDY‘s project schedule, click here.
Bottom Line: Check your local super market to conduct due diligence and monitor the ratio of fresh vegetables to junk food purchased to gauge whether this penny stock stands a fighting chance. SNDY stock may test a penny, but there’s a better chance of gym memberships doubling before this does based on the continued dilution of the pinky.
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