MAMEE gained RM1.00 or 28.7% to RM4.48 with 10000 shares traded at this price. This is quite unusual. Based on yesterday close price of RM3.48, I guess that someone have key in BUY order wrongly.
Lesson learnt:
1. Check your order 3 times before keying in (for those that trade directly using Internet).
2. When you see large price increase with huge spread between BUY and SELL, then most probably it is a wrong order.
3. Capitalizing on human mistake, sometimes you can consistently key in SELL order at price way above yesterday close, especially on low liquidity stock. If someone key in wrongly to BUY your offer, you gained the $ from their mistake.
This blog is related to observations regarding stocks traded in Malaysia. Disclaimer: The company analysis that appear in this blog is merely facts gathered from different sources and the author's personal view. It is not a buy or sell recommendation. The author do not guarantee the accuracy of the facts being presented. Please consult your investment advisors before acting on any information provided by the analysis above.
Hi,
ReplyDeleteI have checked the quantity done at RM4.48, it is just 700 shares. Total at that time was 10000.
Yes, you r right. We can capitalise on the mistake and I have posted it last week. It is one of the 52 Ways of making money in stock market.
For more on the 52 ways, can visit my blog for. Thanks