You are full of crap, just checked Globes no news on more than 16.3 million mentioned. Nothing addition, post links if you want credibility.
And the CEO & Chairman buy stock is good news!!!
In July 03 the insiders were also buyers in the $6 range, the stock rose 30% the next day and 50% in a few weeks. The insiders then sold in the 20's less than a year later. Cmon let's do it again.
I hope you are right, this stock is acting like a pig, of course the last time it acted like this news did come!!!!!
There was very heavy shorting in MAGS a year ago on the run to the mid 30's. The shorts have now held for a year and achieved the long term tax benifit. Not much reason to hold and many reasons for them to cover.
I do not read Hebrew.....an link in English would be greatly appreciated. If this news is true, MAGS should fly, they recived over 50% of the workload on previous installations. 25mm is 45% of MAGS annual revenue, plus previous 6mm order. MAGS would be $15 or greater in a week!
Not to mention Sharon's meeting in Texas with George last week could open the potential for MAGS technology on US borders.
CMON baby give us some love!
Note paragraph 3 from the MAGS news below. Analyst on FOX News just stated the best way to increase security at nuclear plants is on the ground and many plants are ordering electronic sensors and perimeter protection devices. Hope MAGS is getting some.
The deal the won here was a competitive bid situation as per the CEO on conference call.
Friedman is a little nutty and I doubt he could win, but nice to see the border as a campaigne issue.
Interview transcript from 3/15 w/ O'Reilly, half was down is the fence discussion.
It is only a matter of time before manpower is replaced with technology.
Magal give Bush a call and offer a trial!!!!
How about a link?
The completion of the placement could be very positive for the stock and eliminate some huge overhead. This issue has been hanging over the stock for over 6 months.
Also, if Mira Mag or other insiders were purchasers it will be very positive for the stock.
MAGS received approx. $19 mill in revenue for the 140 miles of the west bank barrier. So the Mexican border would worth $190 mill.
THAT IS ALMOST 3 TIMES THEIR TOTAL REVENUE LAST YEAR. MAN THAT WOULD BE NICE, AND GET US BACK TO $40.00
>Yahud, Israel, January 7, 2004 - Magal Security Systems, Ltd. (NASDAQ NM: MAGS; TASE: MAGS)today announced that during the second half of the last quarter of 2003 we received from the Israeli Ministry of Defense (MOD) orders of approximately US$4 million for installation of intrusion detection systems along the seam line between Israel and the West Bank.
Part of these orders were executed in the fourth quarter of 2003, and the balance will be completed by the end of the first quarter of 2004.
Mr. Even-Ezra, Chairman of Magal said:�These orders are a follow on of previous orders that Magal received in September 2002 for US$15 million for installation on the seam line that were executed in the years 2002 and 2003. We believe the company will continue to receive more orders for the seam line during the year 2004."
And there is still 284 miles remaining on the Israel seam line project - that = approx. $40 mill.
Fully owned Magal Subsidary - send them the link!!!
Senstar-Stellar Latin-America, S.A de C.V.
Pradera No. 214
Tel: 52-777-313 0288
Fax: 52-777-317 0364
Email Address: email@example.com
MAGS does have a subsidary in Mexico..hmmm
The White House supports the House-passed bill but it faces stiff opposition in the Senate, where lawmakers are concerned about the asylum (search) provision. Mexico has criticized the push to complete the building of a fence along the U.S.-Mexican border south of San Diego. The bill would waive environmental hurdles.