volume jumped over 1 million shares. A phenomenal gain for VKNG, having in mind its average volume of 447 thousand shares.The most reasonable explanation on the current high trade appeared to be the latest news released by the company. According to the announcement, Viking Systems has just confirmed the launch of its Next Generation 3DHD Visualization System on Oct. 4, this year. VKNG is absolutely satisfied with its project and claims that it will improve the quality of care and reduce the time and the costs of the procedures.
After releasing the news, investors activated and VKNG started to gain.
Viking Systems is a designer, manufacturer and marketer of high-performance laparoscopic vision systems. The company finished 2009 at high-trade, exceeding $1 per share. However, after that a downtrend occurred.[BANNER]
According to its quarterly report, VKNG has generated higher revenue and gross profit, though accompanied by a higher operating loss. The company has more assets than liabilities and its stockholders’ equity got over 50% higher.
Historically, Viking has financed its operations through private sales of equity securities and convertible debt. Presently, due to the anticipated losses and working capital needs, the management believes that “it is likely that we will need to raise additional capital to execute our business plan and continue our operations for the next twelve months”.
