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

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Michelle Zhu

Michelle Zhu

Published Mon, Jun 19, 2023 · 04:30 PM
    • Shares of property developer Ho Bee Land are up at a six-month high on Monday, triggering a query from the Singapore Exchange.
    • Shares of property developer Ho Bee Land are up at a six-month high on Monday, triggering a query from the Singapore Exchange. PHOTO: YEN MENG JIIN, BT

    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.

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