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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (9716)5/27/1998 2:29:00 PM
From: Jenna  Read Replies (3) of 120523
 
Saf T Lok <LOCK.O> shares jump in heavy trading

ATLANTA, May 27 (Reuters) - Shares of Saf T Lok Inc., the
Florida-based maker of handgun locking devices, surged 36
percent in heavy trading on Wednesday with the company the
second-most active on the Nasdaq stock market.
Company president John Gardner was in Washington, D.C. and
not immediately available to comment, Saf T Lok said.
But the buying pressure came a week after a deadly shooting
rampage by a student in an Oregon high school cafeteria stepped
up pressure on lawmakers to require handgun makers to install
such devices on handguns.
The stock was up 1-1/4 to 5 with more than 14 million
shares traded. Earlier in the session, shares touched a new
52-week high of 6 a share. At its peak, the stock was briefly
worth $20 a share in May 1996 before a steady decline set in.
last time the stock was worth $6 a share was in March 1997.
Woodward Trading Co said Wednesday it started coverage of
the company with a strong buy recommendation, citing the
changing political environment and expanding fundamentals.
It also noted said that Saf T Lok plans to use the web to
link, distribute, and retrofit existing firearms from its web
site. (www.saf-t-lok.com).
Woodward Trading was also not immediately available to
comment.
((J. Westhoven, Wall Street Desk 212 859 1881))


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