Why NICORP gone up?

NICORP was heavy-ly traded today with its price closed at RM0.18 up by RM0.09.

The price was at three years high, with volumn so high it was the highest traded counter of the day.

The counter was issued with a UNUSUAL MARKET ACTIVITY ( UMA ) from Bursa Malaysia today but it did not stop the movement of the share price.

Later the query was answered by the company, saying the unusual movement of the share price was due to its major shareholder, Crest Energy Sdn Bhd is said to be in talk with various parties to sell its stake.

Crest Energy Sdn Bhd is holding 22.8% of NICORP.

Hope the deal will not go through so soon, so the price will move up further.

Oh man, this stock has been always good to me for last 4 years. Hopefully whoever bought the stake will push the company to greater high.