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Hot stock: YuuZoo continues rally on optimistic report

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E-COMMERCE payments firm YuuZoo continued its Friday's share price rally on Monday morning.

By 9.43am, it was up one cent, or 3.4 per cent, to S$0.305. It was among the top 20 gainers on the Singapore bourse, and the fifth most active stock with 25.8 million shares traded.

Friday's session had seen YuuZoo surging S$0.07 or 31 per cent to S$0.295 on volume of 90.2 million shares after it highlighted a research report issued by a UK research firm named Edison Research.

The report was commissioned by YuuZoo and did not carry a formal investment recommendation. Edison said that YuuZoo's current low rating reflects its historic focus and its early stage in developing its B2C network business.

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It added that strategic partnerships with seven franchisees should contribute from 2015, and forecast revenues to broadly double in each of the next two years.

YuuZoo builds social e-commerce networks for businesses and consumers. Its stock has almost doubled from S$0.159 in early May.

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