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Thursday, January 10, 2013

DRB-HICOM, HI HOPE, HI DANGER

If a thing appears too good to be true, it probably is.

Rumor abounds that DRB-HICOM may be privatized at between RM3.50 to 4.00.

The stock reacted fast to the rumor. It moved up 7 sen to close at 2.70 in heavy volume.

This type of news can be extremely dangerous especially to the naive players. In my opinion, Bursa should immediately suspend the stock and make an investigation as to who started the rumor. It should also take appropriate action if the rumor is created by someone who wishes to unload his stocks.

It will be failing in its duty if it fails to protect the small players.

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