Hot Stock Vivocom active, down 4.62% on profit taking
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Hot Stock Vivocom active, down 4.62% on profit taking
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[size=28]Vivocom active, down 4.62% on profit taking
By Billy Toh / theedgemarkets.com | April 15, 2016 : 11:27 AM MYTKuala Lumpur (April 15): Shares of Vivocom International Holdings Bhd fell 4.62% in active trade at mid-morning today on profit taking, according to one of the local broking houses.
At 11.11 am, Vivocom dropped by 1.5 sen to 31 sen with 48.1 million shares traded.
Since the note released by CIMB research with a target price of 67 sen on February 28, 2016, Vivocom has jumped by 24% at current price.
“There have been quite a lot of positive movement on Vivocom, with a few research house giving a 12-month target price from 48.5 sen to 67 sen. I have not heard of any new updates that will change the sentiment on this so I think the sharp drop in the share price is mainly due to the profit taking,” said an analyst at a local broking house who declined to be named.
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