Risky but worthwhile to be big on Technax? Technax has been seeing ridiculously high trading volume in recent days.The counter was trading at 52-week low of 6.5 sen but shot up to touch a year high of 14 sen recently.That's more than double in less than 3 weeks. With such a amazing run,investors would likely be tempted to ride on the upward momentum.But is this a ploy to 'push up' the counter,testing markets with high volume. We have witnessed the start of the "wave" as droves of investors started queing to get a piece of the action at the intelligent digital ecosystem and energy storage solutions provider. Some investors are worried that the heightened interst in Trchnax may be not sustainable given the lackmof positive development. In addition ,the company still in the red. For the financial year ended DEC31,2021,Technax managed to narrow its net loss to RM154.7 million from RM182 million in the previous year despite posting higher revenue of RM50.2 million Any run-up in penny stocks like Technax without concrete positive news and still loss-making will be a major turn off for many investors. This is especially the association of Technax Datuk Jared Lim with the penny-stock crash in Singapore in 2013. back then,the Singapore authorities investigated suspected trading irregularities in companies in the centre of a peeny stock crash. share prices in Blumont Group,LionGold Corp and Asiasons Ltd crashed on October 2013,wiping out around S$8 billion in market value in just two days after huge run-ups. jared is a co-founder of Asiasons together with Tan Sri Mohammed Azlan Hashim,who is currently a director of khazanah Nasional and formerly the executive chairman of the Kuala Lumpur Stock exchange. Meanwhile,Jared's wife,Dian Lee-daughter of Malaysian property tycoon Lee Kuan Yew,who founded Malaysia-listed Country Heights Holdings-is linked to Clearwater Developments,which owns a 7% stake in Bluemont. These are of course history but it's perfectly normal for many investors to be cautious given the highly volatile share price ,especially in the past 3 months or so as well as the company's high cash burn rate. Given the perceiveable risks involved,investors may be better off staying clear of Technax for now until it can turn around and can be profitable for a sustained peroid of time
Jackkin Everyday top volume.. dompeilee, can u explain why 09/05/2022 5:46 PM HuhuHUUUUU...Everyday Jokekin's idol Jared the carrot was distributing...2day DUMPPPP everything!!! loOOOOl
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
wan
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Posted by wan > 2022-05-05 10:17 | Report Abuse
TECNAX six digit queue parking damn heavy like a old elephants not a good stock