MQ Technology Bhd (MQTech) and K-One Technology Bhd (K1) are the two technology firms that have recently ventured into the personal protective equipment (PPE) space and saw their share prices skyrocketed, with ballooning trading volumes as investors cast their attention on PPE manufacturers.
MQ Technology Berhad is an investment holding company which subsidiaries provides advanced and world class high precision mould making, magnetic coils for hard disk drive and Services to help our clients accelerate vital progress in their industries.
K-One Technology Bhd engages in the research, design, and development of electronic end-products and sub-systems for the communication, computer, and consumer electronics industries.
TheEdgeMarket reported earlier this week, K1 soared to 27.66% at a record high of 60 sen. The stock settled at 59.5 sen on the close market, still up 12.5 sen or 26.6% The tech firm is valued at RM465.71 million at this price.
K1 was the fourth most actively traded stock on the local stock exchange with a trading volume of 405.20 million shares, more than 14 times its average volume of 27.85 million shares over 200 days.
Meanwhile, MQTech shares rose to 154.2% to a seven-year peak of 30.5 sen. Later, the stock paved some gains to close at 22 sen, 10 sen or 83.3%, valuing the company at RM157.64 million. The stock has jumped about nine times from when it traded at 2.5 sen a year to date.
The counter, the most active stock of Bursa Malaysia, has enjoyed significant attention with a trading volume of 811.22 million, more than 31 times its 25.47 million 200-day average.
Hard-disk drive and automotive component manufacturer Notion VTec Bhd also saw brisk trades earlier this week and jumped 33.74% to close at its intraday high of RM1.11 after announcing that its healthcare arm Notion Venture Sdn Bhd had been registered as a face mask manufacturer with the US Food & Drug Administration.
The rally in these counters comes as investors start paying closer attention to PPE manufacturers, while the glove mania continues unabated in the midst of the persistent pandemic, which in cases around the world has caused a resurgence.