Posted on Tue, Nov 20, 2012 : 11:38 a.m.
Ann Arbor defense company Arotech trying to stay on Nasdaq exchange
By Ben Freed
Ann Arbor-based defense contractor and battery systems maker Arotech Corp. is trying to avoid being delisted on the Nasdaq Stock Market according to a report from Crain’s Detroit Business.
The company hopes to keep its stock price above the threshold as it builds on a new $1.3 million order to its Battery and Power Systems Division from an undisclosed foreign government.
Click here to read the full story on Crain’s Detroit Business.
Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at benfreed@annarbor.com. Follow him on twitter @BFreedinA2
Comments
shepard145
Wed, Nov 21, 2012 : 4:29 a.m.
A battering manufacturer tanking!? Considering the world is fresh out of oil and obama has declared electric cars the next big thing, how could that be? .....oh wait, we have more oil then ever.. oops.
Ron Granger
Tue, Nov 20, 2012 : 9:58 p.m.
Insider sales often mean nothing.... They can be employees exercising options. They can be those with advance knowledge of deal news that will increase the share price.
Kai Petainen
Wed, Nov 21, 2012 : 1:56 a.m.
actually... there is a bunch of academic research on insider transactions. they can be used as a signal, and there are firms that use them as signals. i can show you example after example of interesting companies with insider buying and selling. there are ETFs that follow this sort of stuff -- KNOW, NFO, INSD
Kai Petainen
Tue, Nov 20, 2012 : 5:34 p.m.
The Crain's report is from yesterday... the news today... is that they are NOT being delisted.
Ben Freed
Tue, Nov 20, 2012 : 5:39 p.m.
Kai, You're absolutely right. Sorry for the delayed news. Here's the release from Arotech via Marketwatch: http://www.marketwatch.com/story/arotech-regains-compliance-with-nasdaq-listing-requirements-2012-11-20
Kai Petainen
Tue, Nov 20, 2012 : 5:32 p.m.
The management at Arotech should be congratulated. They did what A123 did not do. A123 had a lot of insider selling. As the stock fell, the insiders kept selling. But, Artoech did the opposite. They gave the shareholders some confidence by buying shares. A few months ago, the insiders bought shares of the stock, and a short while ago, they bought more. This is what A123 should have done, but they did not. Investors see the insider buying and it gives them confidence, and they, in turn... buy some of Arotech. It's a very simple 'signal' that the market loves. If the insiders sell, expect your stock to get punished (like A123), if the insiders buy, expect some to like the stock as well. This is great news... "On November 19, 2012, the Nasdaq Stock Market notified Arotech Corporation of the determination by the Nasdaq Listing Qualifications Staff that Arotech Corporation had regained compliance with the minimum bid price requirement for continued listing set forth in Nasdaq Listing Rule 5450(a)(1), as its common stock had achieved a closing bid price of $1.00 or more for ten consecutive business days. Accordingly, Arotech's securities will continue to be listed on The Nasdaq Global Market. " Thanks for the notification about ARTX... I might have to write about it. It's a great example, as compared to A123.