Honeywell Flour Mill Plc extended its bullish run on Tuesday as the company led stock gainers with N0.22 or 9.78 percent gain to set a new 52-week high of N2.47 a share.
The company’s stock opened the day at N2.25 a share and closed at N2.47.
On August 9, 2021, the price of Honeywell Flour Mill was N1.6 a share when 9,020,791.00 shares were traded. The price jumped to N1.87 a unit on August 12 when an unusual transaction volume of 384,071,393.00 shares was recorded in a move that suggested yet to be disclosed insider dealing or dealings.
To put this in perspective, Honeywell Flour Mill investors traded a combined 29,840,068 shares of the company in four days (Monday, Tuesday, Wednesday and Friday) but on Thursday 384,071,393.00 shares of the company were transacted.
Also, it is important to note that before the 384,071,393.00 trading volume, the price of Honeywell Flour Mill has been rising. Suggesting that there were likely underlying factors – from insiders – fueling activities on the company’s stock.
Since then the price of the stock has been rising despite stock investors asking factors responsible for the recent jump in the price of the stock.
Investors King had reported that Honeywell Flour Mill gained 28.13 percent or N0.45 to N2.05 a share last week to top gainers for the week.
The stock has now gained 54.4 percent since August 9, 2021.