3 hour meeting this morning, then lunch. But yes, 66 In da House!
After seeing the video and watching the first knot being tied, Permagrin ensued! I saw the announcement early this morning and hoped it would be well received. The smoothness and dexterity of the articulation in the video was really nice to see. Bear in mind Dr. Valvo was working on a much more rudimentary unit with very preliminary software, long before the final software development push was being pursued in earnest. The added smoothness and polish to the movements could easily be new jitter-damping features or even removal of unwanted feedback in the control system. Dr. Valvo did a fine job proving the capabilities at that time. With Mr. McNally at the helm, we not only have a near production-ready system, but we have more polished presentations and videos to demonstrate these capabilities to the world.
A 20%+ jump certainly is nothing to sneeze at, but when I first saw the announcement, I couldn't help but wonder if the gains could be much higher today. We were at 50 cents the first week of January, with a brand new CEO and no evidence yet of what he would do; it was all just open potential at that time. Now with proof of his efficacy and a game-changing product getting rave reviews, why shouldn't we be back at 50 cents or more? Trust me, I'm not unhappy with today's results so far but I secretly hoped for a bit more of a reaction. To me, this is as close to "crazy good news" as we could expect at this juncture. And they even threw Dr. Patel back into the mix for any doubters, of which there were plenty on this board a couple months ago! Mr. McNally had reassured several of us via email that Dr. Patel was still on board and we shared that message here, but it took a while for the expressions of doubt to die down.
I would say that the bigger affirmation of SPORT's viability is the ISRG price today. Down about $15/share and on the verge of dropping below $1000 by tomorrow or the day after. This has not been a good week for their shareholders. I'm not gloating because we have been there, but we are at that point where as an investment, our long-term outlook would seem to be a bit rosier than theirs.
And although we don't have triple digit gains today, and we still have a long way to go, the Permagrin remains for today! Kudos to the Titan team and ALL their partners (including but not limited to Ximedica, Plexus, Nicholson, patent licensors, etc.) for fighting the good fight and getting things to this point.
