Stock With Momentum: Parlo Bhd

This article first appeared in The Edge Financial Daily, on December 6, 2019.
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Parlo Bhd (-ve)
TRADING of shares in Parlo Bhd (fundamental: 0.95/3, valuation: 0/3), which pushed the stock up 21.74% or 2.5 sen to its 21-month high of 14 sen yesterday, triggered our momentum algorithm for the fifth time this year.

The gain came after 43.37 million shares were crossed, 26 times higher compared with the counter’s 200-day average trading volume of 1.61 million shares. It was the fifth most actively traded counter on Bursa Malaysia.

Formerly known as Cybertowers Bhd, Parlo is principally engaged in the provision of leisure and corporate travel products and services.

On Sept 10, it said its main operating subsidiary had launched an online platform — T-Broker Marketplace — to help travel agents sell the group’s services. Agents can access the platform at any time of the day to check tour packages, special deals or travel services offered by the group and its travel partners.