Microbot Medical Inc (NASDAQ:MBOT) Is A Nice Low Float Play

There's nothing like low float biotechnology play and Microbot Medical Inc (NASDAQ:MBOT) is one of the most interesting on the market right now. The company just ran up close to 50% on a volume spike, and has if it can maintain some degree of positive market attention, we think there's plenty more upside on offer for an early exposure.Here's what we are looking at.The company is a medical device entity, focused on the development of some pretty cool technology. Essentially, it designs robot like devices designed to crawl through lumen (a term used to describe the hole or gap that through a tube in the body – say a blood vessel, or the intestine) and perform various tasks. The company's two lead assets right now are called TipCat and ViRob.The former is self-propelled, flexible, and semi-disposable endoscope providing see & treat capabilities within tubular lumens, designed for use in things like the colon, blood vessels, and the urinary tract. It's designed to self propel (crawl) through the just mentioned lumen and make it easier for physicians performing colonoscopies, while reducing the chance for bacteria buildup and increasing the likelihood of polyp identification.The later, ViRob, is basically a tiny robot that can be used for a whole host of things, one of the primary right now being the connection to valves in the brain that help remove cerebrospinal fluid in babies with water on the brain. It has additional use cases in things like shunt avoidance, and basically anything where ventricular catheters are used as SOC.So what's driving the action?Well, as we've said, it's not really anything operational – at least, not entirely. Management just announced a fresh patent issue, which is for a technology that serves to protect the in development devices as they move through the body. Important, but not a 50% value shifter.What's a more likely cause is that the company will ring the NASDAQ close bell on February 23, and this has led to an influx of speculative volume on expectations that this will drive eyeballs to turn Microbot's way. Traders are taking a look at Microbot and its assets, traders that haven’t heard of the company before, and taking a position based on the potential for revaluation on said assets' application going forward.Reasonable, but again, not a 50% upside driver. That is, of course, unless you've got a float the size of Microbot's. Any volume spike is going to get this one running, and we just got said spike. We're seeing volume to the tune of 20 million shares changing hands daily over the past couple of sessions, versus low digit thousands on an average day.This sort of play isn’t a solid long term strategy. For a company to maintain the gains seen on the back of a low float run, it needs to – eventually – back up the investor interest with operational developments. Microbot is pushing the development of its lead assets, and so when the company's next update hits, we will get some insight as to its success (or otherwise) to this aim. All else aside, its technology is pretty groundbreaking, so there should be some long term potential in it. Spearheading this sort of thing can be expensive, and that's going to be a risk going forward. Dilution is likely on the cards. With that said, a raise of $3.5 million a couple of months ago removes any immediate risk, and keeps this one on the worth-a-watch list for the time being.To sum up, the development assets provide potential catalysts in terms of attracting speculative attention, and speculative attention should boost the stock rooted in the company's low float. With this noted, it's a nice short term float play, even at the current price. We'd like to see some operational developments hit press, however, before thinking about a long term allocation.We will be updating our subscribers as soon as we know more. For the latest updates on MBOT, sign up below!Disclosure: We have no position in MBOT and have not been compensated for this article.