KUALA LUMPUR (June 4): Bursa Malaysia has set an upper limit of RM1.82 and a lower limit of RM1.28 on the share price of Y&G Corp Bhd, after the company saw its share price spike from RM1.08 on May 29 to RM1.82 yesterday (June 3), an almost 70% rise.
On Monday (June 1), the exchange had already issued an unusual market activity (UMA) query to Y&G (fundamental: 2.7; valuation: 2.0) after the group saw its share price jump 32 sen or 29.6% to RM1.40 in just one trading day from its closing price of RM1.08 on May 29 (Friday).
The company, in reply to the query, had said it was unaware of any possible reasons behind the share price spike. Its share price continued its ascent to close at RM1.82 yesterday (June 3).
At 3.18pm today, Y&G was down 16 sen or 8.8% to RM1.66, giving it a market capitalisation of RM362.88 million.
(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.)