BAT REACHES VOLUME RECORD; ENGINE REPORT FUELS WILD RIDE BY BEN SULLIVAN DAILY NEWS STAFF WRITER.BAT International gave investors a run for their money Thursday Thursday: see week. as the company's share price soared and swooped on massive volume, before closing close to its original price. BAT ended the day at $1.75, down $.31, with a record 24.3 million shares trading hands. That was more volume than that of Amgen Inc., Microsoft (Microsoft Corporation, Redmond, WA, www.microsoft.com) The most successful and influential software company. Microsoft's software and Intel's hardware pioneered the PC and revolutionized the computer industry. Corp. and AT&T combined. BAT peaked Thursday at $3.25, fell to $.95 within 85 minutes and then shot back to the $2 range. The tiny automotive-technology firm has seen its value increase nearly 2,200 percent since Jan. 1, when it was trading at $.08 a share, on company reports that it has developed an automobile engine that can get more than 100 miles per gallon Noun 1. miles per gallon - the distance traveled in a vehicle powered by one gallon of gasoline or diesel fuel unit, unit of measurement - any division of quantity accepted as a standard of measurement or exchange; "the dollar is the United States unit of . The company is scheduled to publicly test the technology Tuesday at a race track in Fontana. A previous test proved inconclusive INCONCLUSIVE. What does not put an end to a thing. Inconclusive presumptions are those which may be overcome by opposing proof; for example, the law presumes that he who possesses personal property is the owner of it, but evidence is allowed to contradict this presumption, and show who is when the test car developed an oil leak (programming) leak - With a qualifier, one of a class of resource-management bugs that occur when resources are not freed properly after operations on them are finished, so they effectively disappear (leak out). This leads to eventual exhaustion as new allocation requests come in. that the company said was unrelated to the technology being demonstrated. Auto industry representative say they are dubious of BAT's claims. ``We're skeptical,'' Chrysler Corp. spokesman Scott Fosgard told Bloomberg Bloomberg A major global provider of 24-hour financial news and information including real-time and historic price data, financials data, trading news and analyst coverage, as well as general news and sports. News on Thursday. ``It just doesn't add up. From our initial analysis, we don't see results that would support their claims.'' The Burbank-based company, which is 5 years old, has never filed a financial report with the Securities and Exchange Commission. President Joseph LaStella, 58, said its most recent financial statement, which wasn't immediately available for review, was issued last year, covering 1996, and reflects a net worth of about $5 million. LaStella said BAT's 1997 revenue was ``a few hundred thousand dollars'' but predicted its new technology will boost that. ``I think the technology is worth billions,'' said LaStella, in an interview with Bloomberg News. |
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