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Update PDZ, Sumatec, Marco plunges more than 10% in 5 minutes

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Update PDZ, Sumatec, Marco plunges more than 10% in 5 minutes Empty Update PDZ, Sumatec, Marco plunges more than 10% in 5 minutes

Post by Cals Wed 20 Aug 2014, 22:24

Update PDZ, Sumatec, Marco plunges more than 10% in 5 minutes
Business & Markets 2014
Written by Afiq Isa of theedgemalaysia.com   
Wednesday, 20 August 2014 15:59

KUALA LUMPUR (Aug 20): Shares of PDZ Holdings Bhd, Sumatec Resources Bhd, and Marco Holdings Bhd plunged precipitously in a five-minute period of aggressive selling, before subsequently recovering most of its losses.

Shares of Sumatec dropped from 57.5 sen to 40 sen between 3:30PM and 3:35PM following large sell orders on the stock. At roughly the same time, shares of PDZ and Marco also dropped to their intraday lows of 32 sen and 21 sen respectively.

By way of comparison, shares of Sumatec, PDZ and Marco closed at 61 sen, 37.5 sen and 23.5 sen respectively yesterday.

The broader market saw its highest ever daily trading volume of 5.11 billion shares yesterday, largely buoyed by speculative activity on penny stocks.
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