The Amigos have conferred this evening and have selected another stock for the Amigofolio.
The stock is Spectranetics (SPNC). The company has news today.
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COLORADO SPRINGS, Colo., Jan. 27 /PRNewswire/ -- The Spectranetics
Corporation (NASDAQ:SPNC) has received CE mark approval in Europe to extend usage of its excimer laser coronary angioplasty catheters to the treatment of obstructed stainless steel coronary stents, the Company announced today.
Stents, slotted tubes inserted into coronary arteries to hold them open, represent one of the fastest-growing interventional, cardiovascular treatments. Cardiovascular therapy involving stents is increasing by over 20 percent per year; in 1997 alone, 230,000 patients in Europe were treated with stents. In approximately 20 percent to 30 percent of stents, tissue build-up, or restenosis, occurs, requiring reintervention.
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SPNC has the only FDA approved laser product for cardiovascular use. The applications for the excimer laser are endless as new procedures using the device are being formed all the time. SPNC has clinical investigations ongoing for more applications of the excimer laser and should be annuonceing more developements soon.
The chart looks interesting at this time. 20d MA has provided nice support for the last few weeks. The stock has been selling since a peak in late September. Since the new year, SPNC has regained its legs and appears to be ready for some nice gains here. Stents are hot right now. SPNC should get some of this attention. We will be looking to purchase at the open tomorrow morning.
Amigo Mike |
