Stock With Momentum: Metrod Holdings

This article first appeared in The Edge Financial Daily, on February 28, 2019.
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Metrod Holdings Bhd (-ve)

TRADING in shares of Metrod Holdings Bhd (fundamental: 0.35/3, valuation: 2/3), which pushed the counter five sen or 2.94% higher to close at RM1.75 yesterday, also triggered our momentum algorithm for the first time this year.

But volume was slim, with just 3,000 shares done. Its 200-day average trading volume was 884 shares.

The copper road producer, which reported a revenue of RM2.58 billion in 2017, is aiming to double its sales number over the next three years by tapping into the growing demand for copper

globally.

This comes after the group boosted its manufacturing capacity with the launch of a 6,300m plant extension adjacent to its existing manufacturing facility at the Bukit Raja Prime Industrial Park.