INNOVATE Corp (VATE)

[downthehatch]

VATE has made a big move since the January 17th FDA approval of the MediBeacon kidney function monitoring device (that has a market value north of $400 million- see https://www.biogeneratorventures.com/news-media/biogenerator-company-medibeacon-transdermal-gfr-system-receives-fda-approval-to-assess-kidney-function). The MediBeacon product alone justifies a share price of over $30.

But I would be a little cautious chasing the shares beyond $15 or so, given the fact that there will be no revenue from this new product in Q4, and the company has shown erratic earnings this past year. It bounced from a signiifcant loss in Q1, to $1.00/share earning in Q2 (on a post reverse split basis), to another loss in Q3. So who knows what we will see when they report in early March.

Long term, it is a $30-$50 stock, but there will likely be some entry points along the way, at less than $12-15.