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Hot stock: YuuZoo continues rally on optimistic report
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.
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.