the stock lost 20% on its price. However, its traded volume remained unusually high and exceeded 1 million shares for the day.Obviously, investors are not so enthusiastic anymore, though, nobody knows the reason for the sudden price fall.
According to the records, Viking climbed up as soon as it reported the FDA clearance of its 510(k) application, however, the price crashed down shortly. In November last year, VKNG exceeded $1.00 per share and the company traded at a shockingly high volume. Though, after that the stock entered a downtrend and presently its trading range is between $0.35 and $0.46.[BANNER]
Viking Systems, Inc. is a developer, manufacturer and marketer of visualization solutions for complex, minimally invasive surgery. The latest financial results of the company look a bit improved, however, VKNG has suffered a higher net loss as compared to the previous quarter. Its stockholders’ equity has increased more than 50%, though, Viking still has more assets than liabilities on its balance sheet.
VKNG management “believes that the Company’s existing cash resources, combined with projected cash flows from operations are not likely to be sufficient to execute its business plan and continue operations beyond the next twelve months”.
Based on these facts and keeping in mind the current negative price change of the stock, Viking will definitely need additional financing for its future activities.
