Volume Spike: Thoratec (THOR)

Posted in General 
October 27th, 2008

Thoratec Corp. (NASDAQ: THOR) has fallen from grace on a product recall, the last thing a company which makes its living off of medical devices to treat heart failure wants to be under.  Shares are paying a price for the action too.

This stock is down almost 17% at $20.90 (10:30 AM EST) and the 52-week trading range is $12.92 to $29.72.  Frankly, it is amazing that this reaction isn’t worse.  It has also traded over 1.9 million shares, which is almost double its average daily volume and we are only 1 hour into the trading day.

Here is the full synopsis on the recall at BioHealthInvestor.com.

This stock does have put and call options, and we see no real evidence that this news was magically known in the options open interest.

Jon C. Ogg
October 27, 2008

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