This article first appeared in The Edge Financial Daily, on March 8, 2016.

Eka Noodles Bhd (-ve)

SHARES of EKA Noodles Bhd (Fundamental: 0.35/3, Valuation: 0/3) saw its share price tanked by 26.2% to close at 15.5 sen yesterday despite the lack of any new catalyst or risk. The stocks were heavily traded with 72.88 million shares changed hands in comparison to its 200-days average volume of 2.40 million shares.

 The group was last featured in “Stocks with Momentum” on March 3 where a negative momentum was triggered. EKA’s share price has doubled by end of last week since the start of the year. Even with the sharp drop today, EKA’s share price is still up by 47.6% compared to Dec 31, 2015.

 Its fundamentals remain weak with only a cash of RM908,000 while its total debt is at about RM67.3 million. The company recently saw a turnaround by returning to black on its latest quarter report with a quarterly net profit of RM308,000.