$EDAP....the exits; shares down 30% on 12x surge in volume
Oct. 1, 2015 3:24 PM • SA Editor Douglas W. House
Buy-and-hold investors in thinly traded nano cap EDAP TMS SA (EDAP -29.5%) appear to be an endangered species today. Shares bottomed at $3.05, down almost 50% from the high of $6.00 several days ago, before recovering a bit. Volume is heavy - 12x higher than normal.
No particular news accounts for the selling although prices were recently extended almost 50% above the 50-day EMA on the daily chart.
In July, the company failed to secure 510(k) clearance for its Ablatherm HIFU (High Intensity Focused Ultrasound) for the treatment of prostate cancer, despite being approved in the EU, Canada, Australia and certain other countries.
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