Fly On The Wall - April 15, 2013
17:05 EDT IMSC, ASEI Implant Sciences, ASEI rally after Boston Marathon explosion
Shares of security-related stocks Implant Sciences (IMSC) and American Science & Engineering (ASEI) rallied sharply after reports of an explosion at the finish line of the Boston Marathon at approximately 3:00 pm ET. WHAT’S NOTABLE: Implant Sciences manufactures sensors and systems for the security, safety and defense industries. Its technologies are used worldwide in security and inspection applications. Implant Sciences develops technologies used in explosives trace detection. American Science and Engineering manufactures x-ray inspection and other detection products for homeland security, force protection and other critical defense applications. PRICE ACTION: Shares of both companies were lower, along with the market at large, from the start of the trading day until news of the explosions in Boston. Then both stocks spiked higher. Implant Sciences closed up 18%, or 19c off its intra day-low of 97c, to $1.23, while American Science & Engineering closed down 0.65%, or 40c higher than its intra-day low of $59.57, to $60.69