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Penny Stock: A once-in-two-decade penny stock fever

IF 2020 is the year of rubber glove manufacturers and technology-related counters, penny stocks deserve at least a notable mention.
The penny stock fever on the local bourse has not been seen for at least 20 years since the dotcom bubble burst.
The eye-popping share price rally lured long-absent retail investors to the stock market and that, in turn, lifted the daily trading volume to a record high of 27.8 billion shares on Aug 11.
At the height of the penny stock fever in August, share prices hitting limit up were not a rare sight. On Aug 7, 12 stocks hit limit up, including HLT Global Bhd, LKL International Bhd and ES Ceramics Technology Bhd. These three were below 20 at the start of 2020.

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