Versatile Creative Bhd (-ve)
SHARES in Versatile Creative Bhd (fundamental: 0.95/3, valuation: 0/3) triggered our momentum algorithm for the first time as the stock rose 5.6% to RM1.32 last Friday, after about one million shares changed hands.
In comparison, its 200-day average volume was 41,024 shares.
The stock’s year-to-date return is about 79.59% as of its close last Friday. In May alone, we have seen its share price surge by 80.8%.
On May 5, Versatile was issued an unusual market activity query by Bursa Malaysia on a sharp rise in its share price.
In response, the board stated that other than the fact that a major shareholder had entered into an agreement to dispose of eight million shares in Versatile to a third party for 60 sen per share, it was not aware of any rumour, event or development involving the company’s business or financial affairs, which was likely to have contributed to the share price movement.
VERSATL (4995) - Stock With Momentum: Versatile Creative
http://www.theedgemarkets.com/my/article/stock-momentum-versatile-creative
