FDA Clearance Sends Soliton Stock Surging

Sentiment surrounding the equity is optimistic

Managing Editor
Mar 11, 2020 at 9:56 AM
facebook twitter 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.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners