I’m trying to figure out what is going on with ABMD this morning. I can’t find any news other than earnings coming out tomorrow. Any help will be appreciated.
Thanks.
Gayle
Don’t know mate. Any competitor trial data released?
Ant
The best I can tell is that EW, another medical device maker, was down 17% today due to what seems like growth slowdown issues. Both are in a similar field (percutaneous heart procedures).
Thanks for the info. I couldn’t find much more either. Anxious to see earnings tomorrow.
Gayle
I don’t want to sound bitter, but…reading between the lines of the market action in ABMD over the past 2 days and public info that was available during that time, it seems pretty obvious to me, that some people were aware of the earnings miss yesterday, and acted on it, ahead of this morning’s release.
How do you get to be one of those privileged few? I hope their actions come back to bite them.
I don’t understand the market reaction either. Probably issues with contracting margin or just the share giving up most of the recent rapid gain.
I don’t understand the market reaction either. Probably issues with contracting margin or just the share giving up most of the recent rapid gain.
I don’t have a problem with the market reaction today, after the release. My issue is with the market reaction yesterday, before the release was made public! The shares dropped the same amount yesterday as they did today.
Non-public information may have been in play but it seems the market was worried about industry downturn from EW earnings and ABMD overvaluation. After the reading cc, I concluded it’s way oversold and picked up the share around 100.
Hex