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Genetec unaware of reason behind share price, volume spike

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Genetec unaware of reason behind share price, volume spike

Post by Cals Tue 24 Nov 2015, 20:09

Genetec unaware of reason behind share price, volume spike

By Supriya Surendran / The Edge Financial Daily | November 24, 2015 : 9:50 AM MYT

This article first appeared in The Edge Financial Daily, on November 24, 2015.

KUALA LUMPUR: [size=16]Genetec Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.70), which designs and manufactures automated industrial systems, equipment and services, said it is not aware of the reasons behind its recent share price and volume surge.

In its response to the unusual market activity (UMA) query issued by Bursa Malaysia yesterday, Genetec said the group is not aware of any corporate development, rumour or report concerning the business, or any other possible explanation or material information that may account for the group’s market activity.

The counter gained as much as 5.5 sen or 24% to touch a high of 28 sen yesterday, after some 151.91 million shares were exchanged. The stock was the most active stock on the exchange.

At the end of trading hours, it settled at 27 sen, still up 20% or 4.5 sen, giving it a market capitalisation of RM71.9 million.

Genetec’s (fundamental: 1.7; valuation: 0.9) stock has been climbing since last Monday, when it was trading at just 19 sen per share. It has gained 42.1% since then.
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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
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Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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