FNWU: SINX, Benthos, Taylor Devices, Sutron and Other Tsunami Stocks Surge
Dec 29, 2004 (M2 PRESSWIRE via COMTEX) -- City of Industry, CA - Shares of Sionix (OTCBB: SINX), Benthos (Nasdaq: BTHS), Sutron Corp. (OTCBB: STRN), Taylor Devices (Nasdaq: TAYD), and Strategic Diagnostics Inc. (Nasdaq: SDIX) surged due to direct and indirect connections to the recent Tsunami tragedy. Sionix, a maker of pure water solutions soared 100% on 2.7 million shares. Sionix develops new concepts in dissolved air flotation (DAF) technology for drinking water and wastewater treatment systems for municipalities and industrial use. Shares of Benthos Inc., a maker of oceanographic products and electronic inspection equipment, rose $1.81, or 11.7 percent, to $17.30 on volume of 1.9 million shares, 63 times the stock's average full-day volume of 27,000 and exceeded the stock's free float of just 1.4 million shares. Company spokesman Peter Zentz said the gain appeared to stem from talk that the company makes a component of a tsunami warning system.
Shares of Sutron Corp. climbed $1.67, or 19.7 percent, to $10.17. Volume was heavy with over 600,000 shares exchanged. The Sterling, Va. company makes tide stations, which monitor the seas and can detect storm surges and tsunamis.
The two companies' gains came after shares of Taylor Devices Inc. climbed more than 100 percent in Monday trading. Investors piled into the stock on expectations the North Tonawanda, N.Y., company could see a jump in orders for its earthquake protection technology in the wake of the disaster. Taylor Devices shares retreated to end down 48 cents, or 7 percent, at $6.27. Volume of 2.8 million shares traded was more than 10 times the stock's average daily turnover.
Other companies saw their share prices surge because they offer products that could be useful in the disaster relief effort. Shares of Strategic Diagnostics Inc. climbed 58 cents, or 17 percent, to $4, as investors surmised its test kits for food safety and water quality would be in much demand. Once gain volume was heavy with 1.8 million shares traded against an average 121,400.
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