Vasomedical Inc. rocketed by more than 342.86% today, up $0.24 per share to a price of $0.031 a share. The strong upsurge in the stock’s price occurred on massive volume of approximately 8.8 million shares, which is about 5 times the average daily volume. Vasomedical hit a 52-week high today with its intraday high of $0.44 a share, plowing through its previous 52-week high price of $0.105 a share.
The company was initially mentioned in QualityStocks Free Daily Newsletter back on April 7, 2009. At that time, the stock was trading for only $0.049 a share. At the current price, shareholders have pocketed about 530% in gains!
Vasomedical is focused on non-invasive, outpatient therapy [EECP(R)] for the treatment of diseases of the cardiovascular system. Examples include angina, cadiogenic shock, acute myocardial infarction and congestive heart failure. The company today announced the receipt of US FDA 510k clearance on April 2, 2010 to market its Vasomedical-BIOX Model 2301 Combined ECG Holter and Ambulatory Blood Pressure Monitoring Recorder and Software Analysis System. Last year, the Vasomedical BIOX Model 1305 received FDA clearance.
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