Stock With Momentum: Eden Inc

TheEdge Wed, Mar 04, 2020 10:43am - 4 years View Original


Eden Inc Bhd (+ve)

TRADING of shares in Eden Inc Bhd (fundamental: 0.3/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the second time this year.

Eden shares closed 14.81% or four sen lower at 23 sen, erasing some of the gains the stock made on Monday, when it settled at 27 sen after climbing seven sen or 35%.

Trading volume, which ballooned to 205.17 million shares on Monday, its highest level since May 2018, came in at 47.42 million shares yesterday. It was still the 10th most actively traded stock of the day. In contrast, the group’s average trading volume seen in the past 200 days was at 584,587 shares.

Both Eden and Thriven Global Bhd have been in the limelight in the past two days, as the two companies are linked to Datuk Fakhri Yassin Mahiaddin, the son of newly minted Prime Minister Tan Sri Muhyiddin Yassin. Eden, formerly known as Eden Enterprises (M) Bhd, is engaged in food and beverage and tourism operations, while Thriven is a property developer.

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EDEN 0.165
THRIVEN 0.120

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