KUALA LUMPUR: Glove makers stood out on Friday, notching some solid gains as investors viewed them as fundamentally strong to deliver impressive earnings with the Top Glove Corp Bhd
seeing strong trading interest.
Whether the buying was solely by retail buyers inspired by “bursabets” -- a new subreddit on social news aggregator site Reddit -- is unclear due to the lack of data at market close.
However, comments on bursabets prompted the Minority Shareholders Watch Group (MSWG) to advise retail investors to exercise caution in their dealing of stocks, especially due to recent calls in social media to shore up the share price of certain stocks.
Top Glove jumped to an early high of RM7.12. It closed up 53 sen to RM6.74. It was very actively traded with 161.62 million shares done at prices ranging from RM6.56 to RM7.12.
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