GD Express Carrier Bhd (-ve)
SHARES in GD Express Carrier Bhd (fundamental: 1.95/3, valuation: 0.7/3) closed nine sen or 4.21% higher at RM2.23 last Friday, after some 3.63 million shares were exchanged, significantly higher than the counter’s 200-day average volume of 435,934 shares.
The latest share price is a record high for the company, which now has a market capitalisation of RM3.1 billion.
Last month, the logistics company proposed a three-for-one bonus issue of up to 4.71 billion shares to improve its trading liquidity.
GD Express shares have jumped 42% since Feb 28, when they were trading at RM1.57, on what appears to be sustained optimism about e-commerce, especially after the the launch of the Digital Free Trade Zone.
Its latest closing price gives it a price-earnings ratio of 81.09 times.