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UMA Genetec unaware of reason behind UMA
by Cals Mon 23 Nov 2015, 22:22
- UMA
[size=28]Genetec unaware of reason behind UMA
By Supriya Surendran / theedgemarkets.com | November 23, 2015 : 7:44 PM MYT[/size]KUALA LUMPUR (Nov 23): Genetec Technology Bhd ([You must be registered and logged in to see this image.] Valuation: 0.90, Fundamental: 1.70) said today that it is not aware of the reasons behind its unusual market activity (UMA).
In a response to the UMA query issued by Bursa Malaysia earlier, Genetec said that 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 explain the the recent spike in ithe group's share price and volume.
The counter gained as much as 5.5 sen or 24% to touch a high of 28 sen today, 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.
The stock has been climbing since Nov 16, when it was trading at just 19 sen per share. It has gained 42.1% since then.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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