BISON Consolidated Bhd (-ve)  
BISON Consolidated Bhd (valuation: N/A, fundamental: N/A), known for its retail convenience store myNEWS.com, saw its counter decline one sen or 0.48% to close at RM2.09 yesterday, with over 1.46 million shares traded.

The counter was highlighted as a “red flag” stock with momentum by our proprietary algorithm yesterday, suggesting that investors should exercise extra caution while trading.

Shares in the company have gained 90% over its issue price of RM1.10 when first listed on Bursa Malaysia’s Main Market on March 29, 2016. As at March 29 this year, Bison owned and operated 328 convenience stores, and it  targets to operate 400 of them by end-2017.

Bison launched an e-commerce collaboration with EasyParcel called PGEON in February to provide postal users with avenues to have their parcels dropped off or collected at myNEWS.com outlets. Its chief executive officer and executive director Dang Lai Tuk expects PGEON to register a sustained 50% month-on-month growth in transaction volume until July this year.