Hot stock: Ho Bee Land has no explanation for spikes in share price, volume

PROPERTY developer Ho Bee Land is “not aware of any information not previously announced” nor has any explanation for the surge in its share price to a six-month high on Monday (Jun 19) amid heavier-than-usual trading activity.

Its share price had spiked to a six-month high of S$2.46 or up 19.4 per cent at 2.33 pm, with a trading volume of more than 343,700 – well above its average volume of 48,169. The last time the counter traded at such levels was in December 2022.

The jump in its price and volume attracted a query from the bourse operator at 2.20 pm.