Trek 2000 hit with 'trade with caution' warning

Its share price has surged by 21.4%.

Mainboard-listed thumbdrive firm Trek 2000 was tagged with a trade with caution warning from the SGX on Monday, after he substantial increase in its share price by 21.4% between 28 August and 1 September 2014.

On Tuesday, the firm responded that it was not aware of any reasons that could possibly explain the trading in its securities.

“The Board is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which, if known, might explain the unusual price movements,” noted Trek 2000.

According to the SGX, “In view of the trading activities observed and the Issuer's response, shareholders and potential investors should exercise caution when dealing in the securities. The Exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market.”