Paragon Union Bhd remained under pressure in Thursday’s trading session, slipping 0.61% as investors continued to monitor the stock following a recent unusual market activity (UMA) query from Bursa Malaysia Securities.
As of the time of writing, the counter last changed hands at RM1.62, down RM0.01 from the previous close. It opened at RM1.64 and traded within a tight intraday range between RM1.62 and RM1.65, with a total volume of 533 lots. Buying interest stood at RM1.62 with buy volume of 957 lots, while sell orders were recorded at RM1.64.
The subdued trading comes after a sharp selloff earlier in the month, when Bursa Malaysia issued a UMA query to Paragon Union following a sudden plunge in its share price.
At the time, the stock fell as much as 29.83% to RM3.27 from RM4.66, prompting the exchange to seek clarification from the company over possible undisclosed developments, ongoing negotiations or other factors that could have triggered the move.
Bursa Malaysia also requested confirmation on whether there were any rumours, corporate developments or breaches of listing requirements that may have contributed to the volatility.
The exchange had emphasised that Paragon Union’s board of directors must ensure its response is properly verified before submission through Bursa LINK.
Since the UMA announcement, sentiment around the counter has remained cautious, with trading activity relatively muted compared to prior volatility, as market participants await further clarity from the company.
