Another more recent reason for the activity is likely
this synopsis of a recommendation in the widely-distributed
Dick Davis Digest:
Magal: Bombs Away!
"Our latest buy recommendation is Israel-based Magal Security Systems
Ltd. (MAGSF 3 1/4 OTC)," says Vivian Lewis (Global Investing, 1040 First
Ave., #305, New York, NY 10022, 12 issues, $137, 2/9/99). "A big problem
as we approach the 21st century is terrorism. Magal has now brought on
about 60 countries on 6 continents for its systems. Magal recently
acquired Snifex Ltd., which will double its revenues. Snifex finds
traces of explosives or drugs without having to be in contact with the
object. When hidden on peoples' bodies or in hand baggage, even a tiny
amount can be detected as they walk through a short tunnel: in airports,
train stations, embassies, government office, prisons, etc. Besides
airports, the firm's perimeter protection systems are used by prisons
and borders in western Europe. Magal had record results for 1998. Full
year revenues at $32.1 million were up 26%. Net 1998 income increased
106% to $0.32 per diluted share. This anti-terrorism stock is itself
hard to detect, being tiny. Magal is languishing mainly because value
detectors are not picking up its explosive growth. Buy."
-Madly
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