The Hour Glass’ share price surged on May 21 accompanied by a simultaneous surge in volume. As a result, at the closing of $1.08 on May 21, prices are at a 20 year high, and above the Mar 31, 2021 net asset value of 97 cents. Because of the price surge, technically, prices look like they have broken out of a sideways range. Despite an indicated upside, prices could turnaround and fall swiftly, as it must be said that this counter is relatively illiquid. In addition, because of the volume surge, the company is likely to elicit a query from the regulator.
At the other end of the spectrum, investors are concerned about Singapore Airlines as both traders and investors are cautious about the impact of more mandatory convertible bonds.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
