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HEVEA-WB: Major Shareholders Cutting Stake Dampens Momentum

The share price of HeveaBoard Berhad made a strong move with heavy volume on Christmas Eve 2013 when it rose from RM1.09 to RM1.23. It rose to a 52-week high of RM1.45 on Boxing Day with even higher volume. However, the share price momentum cannot be sustained as the major shareholders and directors of the company began trimming stake since that day. The share price has since dropped to a low of RM1.01 before making some recovery recently. HeveaBoard share closed at RM1.18 on 12 February 2014. The company warrant HEVEA-WB also mimicked the trend of its mother share and closed at 51 sen.

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