Competitive Technologies Issues Another Stunning Press Release

Of the stocks I've written about, Competitive Technologies (CTT) has performed the worst prior to July 30. The Company owns manufacturing and worldwide distribution rights to a highly effective and demanded pain relief device and reported, in May, guaranteed sales of $25M in 2009 and $50M in 2010. Investors were apparently induced into "panic-mode" by Q3 FY09 earnings which, like recent years for CTT, stank. The selloff since then was entirely unwarranted and gave me the opportunity to 4x my position 30% cheaper than I initially bought in. It sincerely amazed me that a quarterly report consistent with recent performance would cause a NYSE traded stock to tank, given that the Company's bright future prospects remained unchanged and no revenues were reasonably expected for FY09.

On July 30 CTT issued the following report, outlining a domestic distribution agreement for the device: