Hey! Today, R-Table will be covering $WIDETEC(7692.MY) - Widetech (Malaysia) Berhad by presenting 10 years financial results in a short, fun & interesting way. Click the link below to watch the video.
Widetech hit with UMA query after 29.6% rise in share price KUALA LUMPUR (Feb 16): Widetech (Malaysia) Bhd has been hit with an unusual market activity (UMA) query by Bursa Malaysia this morning after its stock rose 29.6% or 37 sen to RM1.62. In a bourse filing, the company, which is a precision spring ... TheEdge16 Feb, 2021 11:32am - 24 minutes ago
A1. This small capitalised company (with 44.75mil issued shares) stock price has been hitting new highs for the last two days(today including) for no clear and apparent reasons or disclosures. A2.How can the Securities Commission(SC) being not aware of such sudden price in their stocks? At the present sky-high price NOT supported by any sound fundamentals and financials? A3.For more than TEN(10) years the price is hovering within the narrow range of only 0.50 cents. A4.Same or similar trading manipulation activity can be recently witnessed, and determined in a number of mediocre and small capitalised public listed companies on KLSE. Such development is NO good and adverse for the proper standing,functioning, and operation of our local stock markets. A5. Clearly, a" jacked up and dumped" stock.Don't be the last investors holding OVERVALUED shares when the equity market were to crash or register a big fall.Recent days,the volatility in the global markets have increased.
A1. Ineffectual for the equities or securities regulators to issue standard Unusual Market Activity(UMA) one after another to public -listed companies that have seen their shares' prices spiked,increased, and pumped up by a big, and unusual amount. Such incredulous, and bizarre market moves and trends smacked of market's rigging, cornering, and gross manipulation activities by irresponsible groups to snarl, and entrap the many gullible retail investors in the market place.Cannot discern any fundamental,logical or sound reasons to support the sudden price increase for a great number of listed shares that have negative EPS,ROE,very high PE ratio, forward earning potential not visible, decreasing or stagnant revenues year after year,etc A2.Afer the UMA letter the said share price irregular moves take place and repeated all over again. What does that tell you as a concerned and value-added investors? Show total disregard to the UMA or whatever supervision and monitoring by the regulators. A3. That clearly show that the regulators need to act tough,decisive and strong on such irregular market's trading activities which were bordering, and descending on irrational exuberance. And to serve as a stern , and clear warning to other recalcitrant public listed companies in Bursa. A4. Vitally important that there were array of securities laws to be enforced, and the regulators have to be seen to be doing their jobs,duties, and responsibilities well, and proactive. A5.That to prevent any big losses to be incurred by the retail investors which have NO control,influence and power over such irregular market's price moves.
The ball is with the regulators NOW to show that they are doing the right things, and doing things right.
No prejudice meant to any party.Just to ensure the equity market function in the proper, progressive and regulated manner.
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.
Last closing price at RM 3.21 is simply illogical and has overshoot its future earnings or underlying fundamentals. Negative EPS,negative ROE,no dividends for several quarters. Like Sedania present price movement which is simply irrational.Hope the regulators will act strongly on such irregular price manipulation as expected. The regulators have to play their mandated duties and obligations well.The investors clearly expect them to enforce the securities market's laws with no fear or favour. Clearly, a pumped and dumped stock counter that will caught many gullible investors badly.
Now we know why Foxconn need Siltera so much and it is because they plan to have EV and they need component produced by Siltera and now siltera belong to Dnex and they bought the stake in Dnex to get this component from Siltera for their EV plan.
Foxconn suggests plans to build electric vehicles in Wisconsin
TAIPEI (Reuters) - Taiwan's Foxconn on Friday signaled that it has decided to build electric vehicles in the U.S. state of Wisconsin.
"Foxconn has engaged the Wisconsin Economic Development Corporation to discuss the company's plans for electric vehicle manufacturing. Foxconn is optimistic about our partnership with WEDC and looks forward to ongoing discussions," the company said in a brief statement.
Foxconn and electric car manufacturer Fisker Inc said in May that they had finalised a vehicle-assembly deal. They did not identify a location, but Fisker's CEO said that Foxconn's Wisconsin site was a possibility.
(Reporting by Ben Blanchard; Editing by David Goodman)
1. Share prices shoot up when listed companies not making profit yoy or qoq. EPS, ROE etc etc were all negatives. Reason? Growth ? 2. Share prices going down day after day when listed companies make huge profit qoq and yoy. ROE, EPS etc etc are all positives. Reason? All factored in already? No more growth story.
Funny thing is UMAs are issued only for stocks that shoot up but no UMAs issued when stocks shoot down. Why the bias? Is this also one of the reason our KLCI Index seems to be stuck at the lower end year after year.
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Posted by benhctan > 2013-06-17 08:54 | Report Abuse
Small cap RM1 par value,good entry price but lack of interest