The Five Dumbest Things on Wall Street This Week

4. Don't Have a Chip on Your Shoulder. Place it Subdermally in the Fleshy Portion of Your Upper Arm.

Congratulations to Palm Beach-based Applied Digital Solutions (ADSX Quote), which, like all of our favorite technology companies, is based on the east coast of Florida.

The company announced Tuesday that the Food and Drug Administration had ruled that its subdermal VeriChip is not a regulated medical device if it's used for security, financial and personal identification applications. That clears the way for Applied Digital to continue marketing its subdermal VeriChip.

What, you might ask, is a subdermal VeriChip? Why, it's a device about the size of a grain of rice that gets inserted under the skin. And stays there for years. If you pass a proprietary scanner over the VeriChip, it emits a unique verification number.

And what does one do with a VeriChip? Why, the possibilities are endless. Though each time we try to start thinking of what they are, we get a very queasy feeling.

But you may not. In that case, you should know that Applied Digital says all "qualified" shareholders will soon be able to get "chipped" with an introductory savings of $50.

With the stock now trading at 40 cents a share -- down from a $2.40 spike in May -- that means a round lot of 100 shares of Applied Digital will cost around $40, before commission. That's $10 less than the "chipping" savings.

If you must get a chip, get it cheap.