The Day Trader persona on my favourite forum mentioned that Spuntech Optzia 1 was about to lifrotz - break out. My first vacillating step in the volatile TASE optzia universe was a purchase of 2000 shekel of TAO Warrant 6 last week, on his advise, and it is a wild success - it went up 60% (sixty percent !! ) in three trading day (including 25% rise today, I never saw such a thing, I dont know why it is rising, TAO is a boring company that buys and rents buildings), making me some 250 dollars on paper. I tried to buy Spuntech all yesterday but my broker Arik didnt bother to answer the phone, and I had much work to do and no time to go to the bank so I lost the trading day and bought nothing. I dont use the internet for TASE. Yesterday Spuntech Warrant 1 finished some 10% up. Today at about 11 AM I got him on the phone and bought 2500 shekel Spuntech Warrant 1 at 107 agorot per share (It ended at 108, already covering the trading expenses). Now it is night and I can look up what this thing is about.
It appears that N.R Spuntech Industries is a developer, manufacturer and supplier of spunlace (hydroentangled) fabric products, like the wet papers they give you on airplanes to refresh your face. It seems to me I remember that Kibbutz Shamir wanted to add value to its losing cotton branch. Founded in 1996, and later bought by Nissan Medical Industries, Spuntech is traded on the Tel Aviv Stock Exchange and has become one of the world leaders in hydroentangled fabric.
The company's three production facilities – two in the Galilee, in Israel, and a brand-new 20,000 square meter site in Roxboro, North Carolina, USA, have the annual capacity to manufacture over 27,000 tons of rolled spunlace goods.
Still I have no idea why the stock is rising.