Genetec Falls to 52 Weeks Low - Chance or Run ?
According to The Edge, $GENETEC (0104.MY)$ fell as much as 26% or 37 sen to RM1.05, its lowest since July 2021. At 9.45 am, the stock was trading at RM1.15, on course for nine consecutive sessions of decline. (View original at Genetec shares plunge to July 2021 low, nine-day sell-down wipes out RM614m value)
Source: Malaysian Investment Development Authority (MIDA)
Interestingly, one of the largest shareholders, EPF holding up to 71,510,900 or 9.208% after disposing of 894,100 shares on 19 August 2024. Genetec is directly involved in the Electric Vehicle (EV) industry with a positive outlook on EV and battery energy storage systems (Bass) despite the recent slowdown trend of EV demand.
As of 10.45 a.m., the stock is traded at RM1.19. What do you think about the current situation of GENETEC?
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By: Jshen Ng
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