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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Slim Pickens who wrote (10783)	7/8/1998 1:47:00 PM
From: AlienTech	Read Replies (1) \| Respond to of 23519

huh? CARDIMA INC (CRDM) 7 3/16 +4 5/8: As one employee at medical device maker Cardima Inc told us in a phone interview, "We have been dancing around the office this morning, watching the movement of the stock on the Internet." Indeed, this is the biggest day in the the history of Cardima, a Fremont, CA-based firm which before today sported a market cap of just $23 million and lofty Price/Sales ratio of 13. Of course, the news that the U.S. Food and Drug Administration (FDA) has granted marketing clearance for Cardima's Vueport balloon occlusion guiding catheter is good news. But the event that has caused CRDM employees and shareholders to dance (and has them considering driving down to the local Safeway for champagne) is the 181% spike in price the stock has experienced. Sure, Vueport is the only guiding catheter with a compliant balloon on its distal tip and is specially designed to temporarily occlude the coronary sinus. But that is not what's driving the stock. Most of the investors bidding up CRDM shares wouldn't know the difference between a coronary sinus and a corona cerveza (for those of you who don't speak Spanish: Corona beer). The story on CRDM is that the stock gapped open (+46%) on "strong" early volume. In CRDM's case, strong early volume means anything over 5,000 shares in the first 30 minutes of trading. When we first picked up the stock on "In Play," CRDM was trading up 34% on volume of 34,000 shares, more than double its average daily turnover of 15,200. Over the next hour, daytraders became aware of the issue and pushed it up to over $6.50, or plus 158%. At that point volume had soared to 507K. With the stock up so much in early trading, it was almost a given that CNBC would mention CRDM. As the intraday chart shows, Cardima shares took off like a rocket once CNBC began talking about the stock. CRDM quickly rallied to an intraday high of 10 7/8, up 325% from the previous day's close. To put it simply: It was just Cardima's lucky day. Few of the daytraders who are churning CRDM shares today (volume 8 mln vs float of only 1.7 mln) could care less if Cardima eventually sells 1 hundred or 1 million Veuports. So to the insiders at CRDM, we say: celebrate now, because by the end of the month your new-found daytrading buddies will have abandoned you. (By the way, we know that corona cerveza is inverted)