Grand Hoover Bhd (+ve)
TRADING of shares in main market-listed Grand Hoover Bhd (fundamental: 0.55/3, valuation: 0.9/3) triggered our proprietary momentum algorithm yesterday for the third time this month.

At market close yesterday, the stock price dropped 5.5 sen or 8.15% at 62 sen, bringing it a market capitalisation of RM24.8 million. A total of 541,000 shares crossed between the range of 62 sen and 66.5 sen, higher than the counter’s 200-day average of 117,613 shares. The stock has since lost 44% of its value after notching a 14-year high of RM1.11 on Nov 17, 2017.

The company turned in a net loss of RM1.79 million for its full financial year ended June 30, 2018 against a net profit of RM405,000 in the preceding year; while revenue fell 3% to RM52.16 million from RM54.02 million previously after deferring its project launches.

It said the property market is expected to remain soft, and as a result, its business of trading of building materials too will be challenging.