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#NotionVTec receives UMA query on sudden share price surge

Notion VTec gets UMA query on sharp rise in share price

Notion VTEC Bhd received an unusual market activity (UMA) query from Bursa Malaysia Securities due to a sharp rise in its share price. The company’s shares rose by 8.29% to RM1.96 at the close of trading. In response to the UMA, Notion VTec attributed the increase in share price to its strong performance recovery and the industry’s turnaround, with positive returns in the first and second quarters of financial year 2024. The company highlighted its consistent improvement in financial results and effective strategic initiatives, leading to positive investor response. Notion VTec, as a technology stock, has benefited from a significant turnaround in the Hard Disk Drive and Electronics Manufacturing Services sectors, similar to the growth of technology stocks on the NASDAQ market. The company mentioned in its unaudited quarterly financial report for 2Q 2024 that the second half of FY2024 may outpace the first half. An article in a local publication on May 27, 2024, may have also increased investor interest in the company.

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Source link: https://www.thestar.com.my/business/business-news/2024/06/18/notion-vtec-gets-uma-query-on-sharp-rise-in-share-price

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