Medifast, Inc. is a diet food company that was founded by William Vitale, M.D. in 1980. His products were sold directly to doctors, who in turn prescribed them to their patients. Since then, over 20,000 doctors have prescribed or recommended Medifast to over a million customers. Medifast is now available to consumers by being publicly traded at the New York Stock Exchange.
The Medifast company makes soy based medical meal replacement products used by qualified medical practitioners and their patients. These products are sold under the Medifast brand name and are used as high-protein diet products. The products are manufactured by subsidiary Jason Pharmaceuticals. The company's Take Shape for Life product line, a medically supervised program for long-term weight loss, is marketed through drug wholesalers, diet and fitness centers, and the Internet.
The reason why we chose to purchase this stock was because we wanted a pharmasutical company because people will always need pharmasuticals. Also the MSN stock scouter rated it a 10 a time of purchase currently it is a 2. So we sold the shares just in time.
Our group purchased a total of 100 shares of MED at $21.40. We sold 50 shares on 2/18/2010 at $22.51 and another 30 shares the very next day at 21.86 because i saw that the stock was tanking and i still wanted to make a profit, we sold the final 20 shares on 3/1/2010 at $22.59.
Fine stock
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