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Home > Archive > Alternative Power sources > November 2006 > Robb bullish on Mechanical Technology stock
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Robb bullish on Mechanical Technology stock
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| lkgeo1 2006-11-24, 1:25 pm |
| Robb bullish on Mechanical Technology stock
November 22, 2006 at 1:34 pm by Larry Rulison, Business writer
Walter Robb knows a good deal when he sees it.
The former General Electric Co., executive, venture capitalist and
sports team owner bought 135,000 shares of Mechanical Technology Inc.
(Nasdaq: MKTY) on Monday. He paid $1.81 per share, and brought his
total holdings in the company to 253,300 shares, according to a
financial disclosure document filed with the Securities and Exchange
Commission.
Robb is a member of the company's board of directors, so it's no
wonder he's a fan of the company, which through a subsidiary, MTI
MicroFuel Cells Inc., is developing a new type of fuel cell that is
designed to replace batteries used in electronic devices such as
cellphones.
Robb said in a brief interview today that the shares have become so
cheap - the 52-week high was $5 per share - that they became an
excellent investment opportunity, since he believes them to be
undervalued. Robb says he expects them to appreciate in the future.
"Absolutely," he said.
Shares were trading at $2.11 this afternoon, up 4 cents for the day.
The stock actually reached $2.19 earlier in the day.
Mechanical Technology CEO Steven Fischer also snapped up shares. He
acquired 10,000 shares on Tuesday for $1.85 per share and now owns
185,000 shares.
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| lkgeo1 2006-11-24, 1:25 pm |
| http://finance.yahoo.com/q/bc?s=MKTY&t=5d
lkgeo1 wrote:
> Robb bullish on Mechanical Technology stock
> November 22, 2006 at 1:34 pm by Larry Rulison, Business writer
> Walter Robb knows a good deal when he sees it.
>
> The former General Electric Co., executive, venture capitalist and
> sports team owner bought 135,000 shares of Mechanical Technology Inc.
> (Nasdaq: MKTY) on Monday. He paid $1.81 per share, and brought his
> total holdings in the company to 253,300 shares, according to a
> financial disclosure document filed with the Securities and Exchange
> Commission.
>
>
> Robb is a member of the company's board of directors, so it's no
> wonder he's a fan of the company, which through a subsidiary, MTI
> MicroFuel Cells Inc., is developing a new type of fuel cell that is
> designed to replace batteries used in electronic devices such as
> cellphones.
>
>
> Robb said in a brief interview today that the shares have become so
> cheap - the 52-week high was $5 per share - that they became an
> excellent investment opportunity, since he believes them to be
> undervalued. Robb says he expects them to appreciate in the future.
>
>
> "Absolutely," he said.
>
>
> Shares were trading at $2.11 this afternoon, up 4 cents for the day.
> The stock actually reached $2.19 earlier in the day.
>
>
> Mechanical Technology CEO Steven Fischer also snapped up shares. He
> acquired 10,000 shares on Tuesday for $1.85 per share and now owns
> 185,000 shares.
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| Eeyore 2006-11-24, 1:25 pm |
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lkgeo1 wrote:
> Robb bullish on Mechanical Technology stock
Nothing to do with homepower.
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