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TheEdge
Daily: Hot Stocks For The Week
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KarenSoft Tech Bhd
Software solutions provider KarenSoft
saw its share price dive to its lowest
level in 12 months last Friday. The stock
skidded to 23.5 sen after starting the
week at 45 sen. It traded at an average
volume of 8.6 million shares throughout
the week. Bursa queried the company last
Wednesday about its falling share price
and high trading volume. However, the
company responded that it was unaware
of any material development in its business
to warrant the sharp decline in its share
price. According to a dealer, the trade
pattern suggests that credit lines extended
to the syndicates operating the stock
may have been withdrawn, and that probably
caused some forced selling.
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