Today 09.04.2014 OCK hit another high note. Closed at all-time high of RM1.42, up 4 cents from the previous day close and 2 cents short of reclaiming its all-time intraday high of RM1.44 recorded on 08.04.2014. OCK was actively traded since 11.03.2014 with daily turnover volume was above two millions since then.
Some claimed that the stock has joined the group of speculative stocks. I offer a different view. All stocks are speculative in nature. It depends on the news flow which can be either authentic news or the rumour news. Some may attract less attention and others may attract excessive attention. Any authentic news could have been leaked long before it becomes public and someone could have taken advantage of it and speculate the stock. On the other hand, the rumour news, as the words implied, a news that has yet to be authentic will attract its own believers. Either way, people will speculate the stock upon hearing any type of news.
What about those stocks that do not have news flow? I think nobody will be interested to invest in such a stock. No news flow means the listed company is not doing their job. It is either the company is not bothered about its own profile or the company has no interesting business preposition to excite the market. I, for one, would not be interested to invest in such company.
Back to the observation of increased of daily volume turnover since 11.03.2014. This stock was not actively traded prior to 11.03.2014 and it even has the nickname of oldman stock. Could it be just pure speculation play on the stock without any real development coming from the company? Everything happens for a reason.
Its price closed at all-time high of RM1.42 on 09.04.2014.