This article first appeared in The Edge Financial Daily on June 18, 2019
JMR Conglomeration Bhd (-ve)
TRADING of shares in JMR Conglomeration Bhd (fundamental: 1.25/3, valuation: 0.3/3) triggered our momentum algorithm yesterday for the third time this month.
The stock rose three sen or 2.7% to settle at RM1.14, with 276,000 shares traded, beating its 200-day average volume of 38,243.5 shares.
The counter has been seeing some volatile movements since end-May. It closed at RM1.04 on May 27 and jumped to RM1.17 on May 30 before seeing a sharp correction to close at RM1 on June 4 despite lack of news of JMR.
The group, which is involved in manufacturing, property development and construction, posted a net loss of RM2.23 million for the fourth financial quarter ended March 31, 2019, slightly more than the RM2.1 million net loss it reported for the previous year’s corresponding quarter.