Stock of Israeli Company Specializing in ‘Smart’ Border Fences on Sharp Rise Since Trump Election
The market value of an Israeli security company specializing in technologically advanced border fences has been rising sharply since Donald Trump won the US presidential election last week, the Hebrew news site nrg reported on Tuesday.
According to the report, based on figures released by Bloomberg, the stock of Magal Security Systems Ltd. rose 6% Monday on the Nasdaq and 19% in total since the victory of the Republican candidate, who has vowed to build a wall between the United States and Mexico, to prevent the influx of illegal immigrants.
Magal Chief Executive Officer Saar Koursh said it’s possible that Trump’s vow to erect a wall is indeed responsible for his company’s recent success. “It seems clear that Trump is going to put more investment into security on US borders,” he told Bloomberg.
Among other projects, Magal is building the smart fence for the IDF along the Gaza border, and — as was reported in The Algemeiner in August — Kroush said he hoped that his company would be able to take part in the erection of the proposed wall along the Mexican border if Trump became president.
According to nrg, the company specializes in “smart” fences, which combine video cameras, motion sensors and satellite monitoring. In addition to the Gaza fence – a project the company says it’s particularly proud of – Magal is currently working on a major project in Kenya, involving the securing of its border with terror-stricken Somalia.
Kroush, who accompanied Prime Minister Benjamin Netanyahu on his historic trip to Africa in the summer, said in a radio interview in Nairobi that few companies in the world can boast such an accomplishment as that of the border fence around Gaza.