WESTON, Fla., Aug. 19, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: MotivNation, Inc. (OTCBB:MOVN), Network Appliance Inc. (Nasdaq:NTAP), TriQuint Semiconductor, Inc. (Nasdaq:TQNT) and Atmel Corporation (Nasdaq:ATML).
Aggressive investors and traders will want to watch MotivNation, Inc. (OTCBB:MOVN) this morning! Yesterday after the markets closed, the company, an Orange County, California based provider and manufacturer of "tools and toys for the automotive enthusiast", issued a press release announcing its strategy for growth through line extension and acquisition!
Investors should watch this one! George R. Lefevre of NeoTactix, MotivNation's advisor discussed the company's two phase strategy for near term growth saying that "the Damon's operation serves as MotivNation's creative center or hub. Tom Prewitt has earned a unique place in the custom automotive and motorcycle builder community for cutting edge design and finish work so the first phase of our strategy is to leverage Tom and Damon's reputation and relationships to develop and acquire proprietary lines of signature lines of accessories to both the enthusiast and the trade. There are presently two product categories that we expect to launch before the end of the year. Let's just say we are waiting for the paint to dry". Mr. Lefevre went on to describe the second phase of the strategy saying that "we believe that distribution and marketing are central to our success and to that end we will market and distribute our own product lines directly to the trade and the enthusiast." The company's growth market opportunity and growth agenda is outlined in a one-page company profile which is available upon request by contacting the company.
This could be more good news for investors! Tom Prewitt, President of MotivNation added to his comments saying that "We have been very busy evaluating several acquisition opportunities that follow our strategy for growth. This has been good process for Damon's having allowed us to look at our many years in this industry and the relationships we have built in a new way. Now we are talking with friends about joining forces together to really grow a company that brings together some of the best talent and products with a national distribution structure that will feed the growing appetite of the custom automotive and enthusiast market."
Keep your eyes on this company! Recently, the company announced the expansion of the company's Damon's Motorcycle Creations custom-painted signature series line with Kawasaki Corporation. The Kawasaki signature series stands front and center of the 2004 Kawasaki Catalog and features custom designs produced by Damon's. The Kawasaki "Tom Prewitt's Damon's Signature Series" features seven custom designs for the Vulcan 2000 and Vulcan 1600 lines for 2004.
The stock closed yesterday at around Eight and a half cents a share.
In case you are not familiar with the company: Based in Irvine, California, MotivNation is aggressively positioned in the custom automotive and motorcycle enthusiast market. The foundation for the business is the platform custom operation of Damon's Motorcycle Creations. Based in Southern California, Damon's has gained national acclaim in the custom automotive and custom motorcycle community as a noted "master builder to the master builders". MotivNation's target clients are in two categories, the individual custom automotive enthusiast or collectors of the "one of a kind" custom motorcycle and auto creations. The second and primary market are the local fabrication and custom shops who buy materials and supplies for their work in serving a growing market appetite for custom or modified automobile or motorcycles creations of their own. The company's web site is http://www.motivnation.com/.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Network Appliance Inc. (Nasdaq:NTAP) up 13.2% on 20.4 million shares traded, TriQuint Semiconductor, Inc. (Nasdaq:TQNT) up 14.9% on 2.1 million shares traded and Atmel Corporation (Nasdaq:ATML) up 11.6% on 11.9 million shares traded.
Commentary:
"7-Eleven Inc., the largest U.S. convenience store chain, has acquired the ATMs network in its stores from American Express Co., for around $44 million, adding to the stores services. The machines will soon be installed in all of the franchises 5,800 stores," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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