Stock With Momentum: Edaran Bhd

This article first appeared in The Edge Financial Daily, on August 23, 2018.
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Edaran Bhd (-ve)
Trading of shares in Edaran Bhd (fundamental: 1.1/3; valuation: 0.3/3), triggered our momentum algorithm on Tuesday for the second time this year.

The stock settled up 3.5 sen or 4.8% at 77 sen, giving it a market capitalisation of RM44.59 million, after 20.38 million shares were done. In comparison, it saw an average 1.21 million shares cross in the past 200 days.

Edaran, via its subsidiaries, provides information technology solutions and services.

Last week the stock was slapped with an unusual market activity query by Bursa Malaysia after its share price spiked. The stock, which was trading at 45.5 sen apiece on Aug 10, jumped to 76 sen on Aug 14.

Edaran, however, said it was not aware of any corporate development that may have caused the recent spike in its share price and trading volume.