KUALA LUMPUR (March 22): Shares in Dataprep Holdings Bhd hit limit down today, plunging some 30% or 75 sen to RM1.75, with 47.84 million shares changing hands.
Today was the second consecutive day of heavy selldown of the stock. Last Friday, the loss-making ICT solution provider’s share price tumbled by 24.5% to RM2.50. The counter gapped down, opening at RM2.29 against last Friday’s closing of RM2.50.
The share price dived as fast as it escalated. Just one week ago, the counter accelerated to a 20-year high of RM3.79 last Monday (March 15), of which it had soared 23-fold from 16.5 sen on Feb 11 in slightly more than a month.
From the peak, the company saw its market capitalisation more than halved to the current RM1.07 billion — from RM2.31 billion (March 15).
The company was worth barely RM100 million in the earlier part of last month.
The crazy surge in its share price had even gotten the stock exchange regulator to warn investors, advising them to exercise caution and make informed decisions in the trading of Dataprep shares.
In terms of corporate development, on March 12, Dataprep said its subsidiary Dataprep (M) Sdn Bhd had signed a memorandum of collaboration (MoC) with Asia Coding Centre Sdn Bhd, an IT consulting and services provider company, for the provision of integrated solution technology for Covid-19 screening.