Universal Security Instruments Comments on Unusual Trading Activity

Rhea-AI Summary

Universal Security Instruments, Inc. (NYSE AMEX: UUU) addressed recent stock market activity on August 26, 2021, confirming no undisclosed material changes in business operations contributed to its share price increase. The NYSE temporarily halted trading of UUU stock in line with standard practices. Universal Security Instruments, a safety and security device distributor with over 50 years of history, maintains its focus on innovative products like smoke alarms. The company emphasizes that forward-looking statements may involve risks and uncertainties, potentially affecting actual results.

Positive

• No undisclosed material changes reported regarding business operations.
• Company has over 50 years of experience in safety and security products.

Negative

• Stock price increase without a clear catalyst may indicate market speculation.
• Trading halt by NYSE suggests unusual market activity, raising investor concerns.

OWINGS MILLS, Md., Aug. 26, 2021 /PRNewswire/ -- Universal Security Instruments, Inc. (NYSE AMEX: UUU) released the following statement regarding recent market activity in the Company's stock:

Normally, the Company does not comment on market activity or rumors. However, the Company confirms that it is not aware of any undisclosed material change or development in its business and operations that would account for the recent increase in the share price and trading volume of the Company's stock.  The New York Stock Exchange halted trading in the Company's stock today in connection with this statement in accordance with the NYSE's usual practice. 

UNIVERSAL SECURITY INSTRUMENTS, INC. is distributor of safety and security devices. Founded in 1969, the Company has an over 50-year heritage of developing innovative and easy-to-install products, including smoke, fire and carbon monoxide alarms.  For more information on Universal Security Instruments, visit our website at www.universalsecurity.com.  

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Certain matters discussed in this news release may constitute forward-looking statements within the meaning of the federal securities laws that inherently include certain risks and uncertainties.  Actual results could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors which may be identified from time to time in our Securities and Exchange Commission filings and other public announcements.  We do not undertake and specifically disclaim any obligation to update any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements.  We will revise our outlook from time to time and frequently will not disclose such revisions publicly

Contact:  Harvey Grossblatt, CEO   
Universal Security Instruments, Inc.
410-363-3000, Ext. 224
or
Don Hunt, Zachary Mizener
Lambert & Co.
616-233-0500

 

View original content:https://www.prnewswire.com/news-releases/universal-security-instruments-comments-on-unusual-trading-activity-301363749.html

SOURCE Universal Security Instruments, Inc.

FAQ

What did Universal Security Instruments say about recent stock activity?

Universal Security Instruments stated that it is not aware of any undisclosed material changes in its business that would explain the stock's recent price rise.

Why was trading of Universal Security Instruments' stock halted?

Trading was halted by the NYSE due to unusual market activity related to the company's stock.

What is the stock symbol for Universal Security Instruments?

The stock symbol for Universal Security Instruments is UUU.

When did Universal Security Instruments release its statement on market activity?

The statement was released on August 26, 2021.