CardioNet, Inc. (BEAT)

[Stockexpertpro]

BEAT Company Loss Nearly 100 Million Dollars over the past 3 years Company continues to lose Millions Medicare just reduced its reinbursement rates by 2% with further rate reductions coming in the future. The company is down to just 18 Million in Cash after burning through 28 Million Dollars last year The current market cap after the latest run up from 2$ a share to just over 6$ a share is a whopping 155 Million Dollars for a company that only has 18 Million in cash and that is losing Millions

The stock price up here is VERY BLOATED EXTREMLY Overbought

The company needs to do a secondary stock offering ASAP to take advantage and raise some much needed cash before they run out of money since they burned 28 Million in cash last year look at the balance sheet they had 28 Million in investments that is now gone they burned it all and are now down to just 18 Million in cash that want last long

Its been a very nice ride from 2$ to over 6$ in 2 short months but its time to get off this train and time to sell and lock those gains in greed kills in the stock market Lock those profits in and time to move the risk now is to the downside