KUALA LUMPUR: Short selling in UWC Bhd has been suspended again after its share price dropped more than 15 per cent.
Its share price dropped to the lowest of RM1.70, down 16.7 per cent in early trade.
As of 10.43am, the stock's share price slipped 14.22 per cent or 29 sen, to RM1.75 from Wednesday's closing price of RM2.04.
Short selling in the stock was also suspended yesterday following a 16.05 per cent or 39 sen, drop in its share price.
Bursa Malaysia Securities noted that the short selling for the stock will resume on Friday at 8.30am.
Year-to-date, its share price has tumbled 48.83 per cent or RM1.67, bringing its market capitalisation to RM1.93 billion.
For the nine months ended April 30, 2024 (9MFY2024), UWC posted a lower net profit of RM13.18 million, down 75.2 per cent from RM53.07 million in the same period last year.
Revenue dropped 25.5 per cent to RM172.58 million from RM231.78 million.