FDA Clearance Sends Soliton Stock Surging

Sentiment surrounding the equity is optimistic

Managing Editor
Mar 11, 2020 at 9:56 AM
facebook X logo linkedin

Shares of Soliton Inc (NASDAQ:SOLY) are surging 7% at $11.40 this morning, higher after the medical device company received 510(k) Premarket Notification clearance at the Food and Drug Administration (FDA) for its Generation II Rapid Acoustic Pulse (RAP) device. The tattoo removal device is similar to its generation I version, but is more catered to the ease of use in a physician's office. 

SOLY has been a relatively steady presence on the charts since mid-2019, contained by the $10- $15 region. However, the equity remains 63% off its late-May record high and is teetering along its year-to-date breakeven mark.

While analysts have yet to chime in on this morning's breakthrough, heading into today the lone brokerage in coverage appeared optimistic. This is per the "buy" rating and average 12-month price target of $22, which is 91% above current trading levels.


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!