Citadel rides Taser stunner

Tue Feb 1, 2005

Few small-cap stocks saw such pricing panache last year as Arizona-based Taser International, the mass-market stun-gun maker that saw its stock gain a sizzling 300% over 12 months, hitting a high of $33.50 per share before the end of 2004. And with results like that, it's no surprise that the then $2 billion company became something of a darling for hedge funds looking to ride a top-performing homeland security stock.

Among those who welcomed Taser's rise were big hedge fund holders like Sprott, Blumont and perhaps most notably Ken Griffin's Citadel Investments, based on filings with the Securities and Exchange Commission.

When Taser's stock price was peaking at the start of the final quarter, Citadel and its affiliate partnerships held some 421,000 shares, up from some 310,200 shares held in August, based on SEC filings. But the Cinderella stock turned into something of a pumpkin as the clock struck...

ISSN: 2151-1845 / CDC10004H

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