The driving force behind Appasia's rise

The reasons for the recent rise in AppAsia's stock price are as follows:

1. **Profit Improvement**: AppAsia's profitability has improved significantly. For example, earnings per share (EPS) for the full year of 2023 were RM0.002, compared to RM0.001 [[❞]] (https://simplywall.st/stocks/my/software/klse-appasia/appasia-berhad-shares) for the previous year.

2. **Strategic development**: The launch of new platforms, such as Metavbuilder, may have boosted investors' optimism. The platform is seen as an initiative to take advantage of emerging technology and has attracted positive market attention [[❞]] (https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=0119).

3. **Internal Purchases**: Recently, there have been a number of internal purchases, such as Mr. Toh Hong Chye's massive purchase of company shares in late May and early June 2024. Internal purchases generally indicate confidence in the company's future prospects [[❞]] (https://www.malaysiastock.biz/Corporate-Infomation.aspx?securityCode=0119) [[❞] (https://www.appasia.com/investor-relations/).

4. **Technical Factor**: From a technical analysis perspective, the stock broke through from the previous downtrend, accompanied by strong trading volume. This technical breakthrough could attract short-term traders and momentum investors [[❞]] (https://www.tradingview.com/symbols/MYX-APPASIA/).

Taken together, these factors have contributed to the recent rise in AppAsia's stock price.