Creative rallies to 1-year high after Super X-Fi online launch

Singapore

SHARES of Creative Technology continued their climb on Monday, days after the mainboard-listed company unveiled its Super X-Fi products in China via live-streaming.

The stock gained S$0.65 or 19.9 per cent to reach an intraday high of S$3.92 shortly after the opening bell. The last time it closed above this level was about a year ago when it finished at S$3.95 on May 31, 2019, according to Shareinvestor data.

It eased slightly to end Monday at S$3.66, up S$0.39 or 11.9 per cent from the previous close, with more than 2.3 million shares changing hands.

Last Friday, after the company launched the Super X-Fi range in China remotely, the counter had jumped 42.2 per cent or S$0.97 to finish at S$3.27. About 2.8 million shares were traded.

The combined volume that changed hands on Friday and Monday exceeds Creative's average three-month volume, which was about three million shares.

The Super X-Fi technology promises to deliver "holographic audio" with its high-end multi-speaker system which makes users feel as if they are immersed in the environment of a video game or attending a concert in person.

Creative has put the technology into products such as headphones and gaming headsets.

When the company first announced the Super X-Fi prototype in early 2018, its shares likewise surged for the next few days. The counter shot to the top of the Singapore bourse's gainers list on March 5, 2018, hitting a decade high of S$7.39, following glowing online reviews about the potential of the "3D audio" product which was described as "mind-blowing", "magical" and "glorious".

In announcing the China online launch last week, chief executive Sim Wong Hoo said that with many people staying home during the Covid-19 pandemic, Super X-Fi can cater to them as it is "excellent for working, learning and playing", be it for conference calls, online lessons or just enjoying a movie.