For perspective on GunnAllen, see this May 7, 1997 press release. At the time, GUMM was trading at just over $9 1/2. Over the ensuing months, the stock rose to an all-time high of $16 9/16, then fell back into the mid single digits. Here's month by month trading history:
04/30/97... 1,743,700 ... 10 ... 7 1/2 ... 9 9/16
05/30/97... 1,481,800... 12 ... 9 1/2 ... 11 3/16
06/30/97... 2,030,500... 11 7/8... 9 3/8... 11 1/4
07/31/97... 2,846,000... 14 11/16... 11 1/8... 13 3/4
08/29/97... 2,592,000... 16 9/16... 13 1/16... 13 3/16
09/30/97... 2,025,800... 13 7/16... 10 1/4 ... 11 1/8
10/31/97... 1,452,000... 12 ... 7 1/2 ... 9 5/8
11/28/97... 734,800... 11 1/2... 9 7/16 ... 9 15/16
12/31/97... 1,034,900... 10 5/16 ... 6 1/8... 6 3/4
01/30/98... 1,832,200... 7 3/4... 4 1/4 ... 5 1/2
02/27/98... 1,631,500... 7 5/8 ... 4 1/2 ... 6 3/4
03/31/98 ... 875,800... 7 ... 4 3/4... 6 1/4
04/30/98... 1,303,400... 6 5/16... 5 1/4... 6
05/29/98... 1,971,400 ... 6 1/2... 4 3/4 ... 5 3/4
06/30/98 ... 1,832,000... 7 3/4... 4 3/4 ... 7 1/2
07/31/98... 2,140,100... 12 3/8 ... 7 1/8 ... 8 1/8
08/31/98... 1,264,200... 9 1/2 ... 7 3/16... 7 1/2
09/30/98... 1,017,800 ... 9 ... 7 1/8... 7 1/2
10/30/98... 1,215,600... 7 5/8... 5... 7 1/8
11/30/98... 1,462,000... 8 3/8 ... 6 3/8... 6 3/4
12/31/98... 1,015,800... 7 3/4... 6 1/4 ... 7 11/16
BW0057 MAY 07,1997
TAMPA, Fla., May 13 /PRNewswire/ -- GunnAllen Financial reiterates its Strong Speculative Buy rating on GumTech International (OTC Bulletin Board: GUMM) based on continued successful implementation of corporate turnaround strategy. GumTech's first year agreement with CigArrest is for 3 million units; this order also significantly increases GumTech's revenue for the year.
GumTech announced that they have been selected as the exclusive worldwide manufacturer of a new anti-smoking chewing gum. This chewing gum will be produced at GumTech's state-of-the-art manufacturing facility and is based on the CigArrest smoking cessation tablet, and will be produced for MDR/Transmedia, creators of the original CigArrest tablet.
Under this new agreement, GumTech will produce and co-distribute CigArrest through its worldwide sales network. GumTech's products are in more than 80% of the large drug store chains and have distribution in Japan, Korea, Russia, Great Britain, Scandinavia, Eastern Europe and the Pacific Rim.
GumTech's new dental hygiene gum, Chew Bright, was recently written up in F-D-C Reports "The Rose Sheet," a weekly publication for industry executives. Additionally, a new advertising campaign recently began which updates GumTech product's packaging and image. GumTech is reintroducing ChromaTrim and Citrus Slim products as well as producing VitaACES and Chew and Soothe zinc gums.
GunnAllen Financial reiterates its coverage of GumTech International with a strong speculative buy. As with all smaller companies, GumTech has some risk, but the company also has significant strengths and is participating in a large and wide open market. GumTech faces factors which could have a significant negative impact on their business, including general economic and business conditions, rival gum manufacturers pricing and marketing efforts, timing of product introductions, inventory obsolescence due to consumer demand shifts, availability of third party materials at reasonable prices, and litigation resulting from product liability and consumer issues.
GumTech's management team is experienced and qualified to take the company from this start-up phase to potentially become a large and profitable company. Management is delivering on their business plan of developing distribution, expanding markets, entering new markets, and developing innovative products.
SOURCE GunnAllen Financial, Inc.
CO: GunnAllen Financial
ST: Florida
IN: HEA
SU: ECO
05/13/97 11:16 EDT prnewswire.com |
