Todays WSJ (as part of the nasdaq section):
Saf T Lok skyrocketed 2 9/16, or 586%, to 3 on the
Nasdaq SmallCap Market after President Clinton and
representatives from eight major gunmakers announced an
agreement to equip 80% of new handguns with
child-safety locks by the end of 1998. The Tequesta, Fla.,
company makes the "quick click" child-proof locking
devices for handguns, which makes it difficult for firearms
to discharge accidentally. Volume was 9.9 million shares,
compared with average daily turnover of 50,300.
In May, the Nasdaq Stock Exchange took steps to delist
Saf T Lok, which traded under the symbol LOCK,
because the company's assets fell below the exchange's $2
million minimum at the end of the first quarter. Stockholder
equity also fell below $1 million. After Saf T Lok raised
some capital, Nasdaq said in August it would allow the
company to trade on the SmallCap market under a
temporary exception, which expires Oct. 15. |
