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.
Ho Bee Land stated in a response to the query, filed after market close, that it is none the wiser regarding the share price movement and volume on Monday.
The shares ended at S$2.32 or 12.6 per cent higher than Friday’s closing price.
