Trading on the Junior Market of the Jamaica Stock Exchange on Monday saw three stocks being halted. Manufacturing company LASCO Manufacturing Limited shares rose as high as 22% although volumes were low. The stock which closed on Friday at J$ 3.20 gained J$ 0.70 (21.87%) in early trading.
There was significant trading in the stock on Friday. As much as 18,620,719 units traded.
Furthermore, the stock seems poised to hit the J$4.00 mark throughout the week with sellers demanding up to J$ 4.60 before a significant resistance is met. Consequently, the huge buy-up is intriguing to Caribbean Value Investor which has LASM as a stock to watch for the remainder of 2020.
LASCO Manufacturing Among Top Gainers
Elsewhere, shares of Indies Pharma, jumped 22% on news of a J$ 0.14 dividend. There were over 2.4 million units of the stock traded on Monday. On the losing side, trading in 1834 Investments shares caused the stock to lose 23%.