Bursa freezes Tomei's upper limit price after the stock soars on gold rally TheEdge Thu, Aug 06, 2020 08:43pm - 9 months ago
KUALA LUMPUR (Aug 6): The upper limit price of Tomei Consolidated Bhd shares have been frozen by Bursa Malaysia at RM1.53, after the counter hit limit up for two consecutive days.
In a filing today, the local bourse said the freeze is maintained in accordance with the rules of Bursa Malaysia Securities, Chapter 8 TRADING, STATIC PRICE LIMITS (8.13(5)) and Trading Manual Chapter 4, Reference Price And Price Limits (4.3) Freezing of Price.
Tomei shares closed 35 sen or 29.66% higher at RM1.53 today, after surging 30 sen or 34.09% a day earlier. The counter has more than tripled year-to-date from 44.5 sen.
Investors have been eyeing the jeweler recently as gold prices continue to surge, setting a new record on Tuesday after surging past US$2,000 per ounce.
Limit up is the maximum amount by which the price of a stock may advance in one trading day.
According to Bursa rulings, when a stock or warrant hits a limit up for two consecutive trading days, "as the case may be on the next market day, the exchange may maintain the trading price at the last done price of the previous market day for such period as specified by the exchange".
rr88 please dont post negative comment.Yesterday you also say dig grave.But what happen now?If i know what will happen tommorow,you already rich lah.The truth is you only simply say without any backup evidence.We all dont know how high the banker want to goreng.Stop your nonsense please.Karma will come to you.
Pp fix at 0.314,so how?still rocket izzit.You are welcome to post possitive comment.But not negative comment.We all dont know what will happen next.Are you god?Stock God izzit?People lost money you very happy izzit.Those who already buy in will curse you.Becareful.
Olan69: yes you are correct. The upper limit on Monday will be frozen at the current closing price. Transactions can still be performed by willing sellers/buyers. The freeze will be uplifted on Tuesday.
By the time you ready the grave,many already earn a lot and left.You think people will hold until it drop back?There is something called cut loss in this world.I think no problem at all for them to buy at this current price 0.905 also.Buy 0.905,if drop to 0.87 then cut loss lah.No need masuk grave de mah!!!!!!Only sour grape with no ball masuk grave with many many sour grape inside the coffin.
As a number of comments made this low performing company's revenue only comes to RM 10million last year and financials very weak. That when the shares issued were at 303.26 million.This is one clear and good example of "pump and dump" stock which will attract & trap many greedy investors in the market when the "party" stops. A2.ESOS in the millions issued at only ) 0.128 cents.Just do a simple calculation how much they earned easy money without showing credible profit performance and financials. A3.Who took up the PP must be disclosed for transparency and good corporate governance. A4.What visible forward earnings that they can show to the investors? A5. Can deduce the present stock price has been unrelentingly pumped up for no fundamental and good reasons to support the price. Who profit immensely from such high stock price? Your guess is as good as mine. Time for BURSA and Securities Commission (SC) to act and be seen doing their jobs as regulators.
Buy at your own risk. Don't be the last player holding a very much overvalued shares when the party stops.
Lately, Unusual Market Activity (UMA) letters were issued to public listed companies by Bursa when their share prices were unrelentingly pumped up to reach ridiculous highs. These include companies mostly mid-size capitalization, poor performing, and weak fundamentals. After oft similar replies were made to Bursa, their prices will continue to ascend incredulously next to even more new high. The price moves, actions, and patterns recorded over the trading days were noticeably spurious. Investing public needs strong and effective regulators to ensure the equity market is devoid of any pernicious manipulation to safeguard their better interests.
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....
TunDaim
384 posts
Posted by TunDaim > 2021-05-21 16:51 | Report Abuse
to all ...congratulations!!..hv a nice weekend