Stock With Momentum: I-Stone Group

This article first appeared in The Edge Financial Daily, on December 19, 2019.
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I-Stone Group Bhd (-ve)
Manufacturing automation solutions provider I-Stone Group Bhd (fundamental: N/A, valuation: N/A), whose share trading volume surged to 24.26 million shares yesterday — slightly higher than the counter’s 200-day average of 23.29 million shares — made it into our Stocks with Momentum list for the second time this year.

At the closing bell, its share price closed unchanged at 24.5 sen. Since it was listed on Bursa Malaysia on July 17, the counter’s share price has gained 53% or 8.5 sen from its offer price of 16 sen.

The Johor-based company is principally involved in the design, manufacturing and modification of specialised automation machines, maintenance and technical support services, and provision of data management systems.