It seems that Israeli insiders are profiting at the expense of largely silent US investers. It sounds like this activity would be illegal if the stock was only NASDAQ listed, but regardlesss of Israeli laws it is clearly sleezy. Too many of us have bought in to the myth that any investment in an Israeli security business must be good.
The reason the stock is tanking is because this company became grossly overvalued in the early part of the decade thanks to 9/11, the Madrid and London train bombings, etc and it's finally being repriced.
It has taken years for investors to realize that MAGS even in the best of times is a profitless breakeven proposition. In the rest of times it maintains a solid record of losing money.
Still even now the stock remains about 50% overvalued. That's just the way it goes with MAGS.
You seem to know a lot about Magal. Is the issue their management or the market they are in? Over the years they seem to buy and/or start companies then later fold them. This must be very expensive. Is there any part of the company that has value and could be profitable?