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Manuel Asensio Report: Jan. 19, 1996 The Closing Bell Falls on Deaf Ears |
Manuel Asensio and Asensio & Company, Inc. ("Asensio") strongly believe that GNCI’s business will not continue to grow as investors are anticipating. To the contrary, Manuel Asensio and Asensio believe that GNCI’s business will deteriorate. In addition to concerns about the value and safety of GNCI’s products, Manuel Asensio and Asensio strongly question the long-term viability of a large retail chain exclusively devoted to what was yesterday called a fad and quackery by Federal health officials. Manuel Asensio and Asensio view the National Institute of Health’s decision to release yesterday’s studies in a press conference as opposed to the traditional publication in medical journals as a clear sign that the government is opposed to the vitamin industry’s continuing attempts to create new products based on unsubstantiated health claims.
This morning’s market action shows the unwillingness of large institutional holders to sell their stock. Investors continue to listen to analysts who have no choice but to continue to recite the Company’s position. Manuel Asensio and Asensio believe that there is no reason to hold these shares. Management sold stock, the market is saturated, and the Company’s business is very controversial. We recommend that this stock be sold. |
