Kumpulan Jetson pares off 2-year high gains

KUALA LUMPUR (June 30): Kumpulan Jetson Bhd, whose share price hit its two-year high of 48.5 sen yesterday, pared off gains in the morning session today.

At 11.54am, shares of the turnkey contractor were down 4 sen or 8.25% at 44.5 sen with over 9.66 million shares traded, giving it a market capitalisation of RM87.86 million.

The counter opened at a soft 46 sen, 2.5 sen lower from its last close. At the same time, its warrants fell 1 sen or 6.25% to 15 sen, with 3.58 million units transacted.

JF Apex Securities Bhd, in today's note, listed Kumpulan Jetson as one of the stocks to watch today. Its analyst Low Zy Jing told theedgemarkets.com that the selling is "just a market reaction", and it is unclear where the counter will head in the near term.

Shares of Kumpulan Jetson hit its highest in two years yesterday, following news that its wholly-owned subsidiary Jetson Construction Sdn Bhd bagged a RM919.3 million development subcontract in Jalan Conlay from MCC Overseas (M) Sdn Bhd. — theedgemarkets.com

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