Stock With Momentum: LYC Healthcare

This article first appeared in The Edge Financial Daily, on September 25, 2019.
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LYC Healthcare Bhd (-ve)
TRADING of shares in LYC Healthcare Bhd (fundamental: 1.35/3, valuation: 0/3) triggered our momentum algorithm yesterday for the second time this year.

The stock finished 2.5 sen or 6.25% lower at 37.5 sen after 3.82 million shares were traded, which was over nine times more than its 200-day average trading volume of 409,554 shares.

LYC, formerly known as Mexter Technology Bhd before its name was changed last October to better reflect its business ventures, is in the business of providing mother, child, and senior care, including nursery and clinical services.

The group started its financial year ending March 31, 2020 in the red, with a net loss of RM1.54 million against a revenue of RM2.69 million. It has been loss-making since its financial year 2012, accumulating net losses to the tune of RM23.24 million as at end-March.