The Five Dumbest Things on Wall Street This Week

5. Chips Ahoy

We know Applied Digital (ADSX Quote) has big plans for its VeriChip unit. We just can't figure out what they are.

The Delray Beach, Fla., company hired Raymond James this week as its financial adviser, saying it wants to maximize the value of VeriChip. VeriChip makes implantable radio bar codes that can provide identification and medical records to doctors.

By now Applied Digital has filled the world in on how huge VeriChip is. The company said in April that Bergen County, N.J., police chief Jack Schmidig was being implanted with the chip as part of an effort to expand the technology's reach. Earlier, Applied Digital noted that Hackensack University Medical Center's Emergency Department had begun a clinical evaluation of the VeriChip.

So does the company want to sell VeriChip, or is it looking for potential acquisitions? A spokesman indicates CEO Scott Silverman has expressed some potential interest in a spinoff, though he emphasizes that no plans are in place. Meanwhile, Applied Digital's Tuesday morning press release spared no buzzword.

"By retaining a firm of Raymond James' caliber, we now move to the next level and look for further ways to maximize shareholder value through a strategic analysis of our Company and its major assets," said CEO Scott Silverman. "With the recent FDA clearance and acquisition of eXI Wireless, clearly the evaluation of VeriChip Corporation is a top priority in this process."

We trust Applied Digital will keep us posted.