- gone ‘ballistic’ is the term in this trade! lol
Bullets are flying ok – let’s see if there is any substance to this.
News – if any – still to hit the market.
Hit US$14.47 a moment ago.
Volume very high for MTSX
Normal avg. vol is 7K/daily.
Right now at 1.4mil
Could all be sparked by that crazy chart yesterday?
And look at it now:
www.stockcharts.com/def/servlet/SC.web?c=mtsx,uu[h,a]daclyiay[pb20!b10!f][vc60][iut!Ub4!Ua12,26,9]&pref=G
Let’s see where it is on the close.
At this rate it could be an interesting day on ASX in a few hours.
Charter Pacific ASX:CHF should fly as well if this is for real (owner of 22% of Metal Storm)
Late addition:
[BRIEFING.COM -- Robert J. Reid] Metal Storm is an overlooked security play that could attract buying interest as the market begins to pick up on its 'safe gun' technology. With momentum traders scouring the markets for defense/security plays and financial publications devoting
considerable ink of late to this space, chances are that Metal Storm will eventually be discovered as either a TASER-play (smart-gun technology) or a defense-play (electronic-weapon system). *** Momentum
Profile highlights speculative stocks in an effort to put traders in front of developing stories. These are not investment ideas.
Key Points
Metal Storm Limited (MTSX) is an Australia-based development stage company with virtually no revenue and fairly sizeable losses.
Its only revenue has been R&D funding grants from the Dept of Defense and the Dept of Justice.
According to The Age, The co is developing what The Guinness Book of Records has declared the world's most intelligent firearm. It's a hand gun that speaks several languages, broadcasts the conversation to the police, fires lethal and non-lethal bullets and is activated only by the grip of the registered owner. The weapons are touted as lighter, cheaper and faster than conventional firearms and, because they are electrical, more easily linked to computers.
A demonstration will be held in the US mid year to show how Metal Storm can be used with unmanned aerial vehicles (UAV), which can collect intelligence but have no attacking power.
The "Variable lethality enforcement (Vle)" gun is expected to tap into a growing market for so-called safe guns, which encompasses more than 700,000 US law enforcement officers and 65 million hand gun users. The State of New Jersey has decreed only safe guns may be sold within
three years of the technology becoming available.
The co recently announced several new technical achievements related to its preparations for in-flight test firings of its electronic weapons system from a small unmanned helicopter.
In February, the co received a $272,000 order and a $755,000 follow-on order from General Dynamics for precision machine assemblies to be used in tactical munitions dispensers. |
