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
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...