Foodie Media extends rebound from all
Foodie Media Bhd shares rebounded following strong financial results and positive outlooks from research analysts. The company is benefiting from a shift in advertising budgets toward digital platforms.
Why it matters
The stock's recovery highlights the growing dominance of digital marketing over traditional media and investor confidence in content-driven business models.
BURSA SGX Home Hot Stock Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Oct 23): Foodie Media Bhd (KL: FOODIE ) rose on Friday to extend a rebound from all-time lows thanks to a set of stronger-than-expected results at the social media content company.
Maybank Investment Bank, one of only two research houses covering the stock, said digital advertising expenditure (adex) appears resilient as brands will have to ramp up marketing efforts to win wallet shares at a time of subdued consumer sentiment.
Latest results show that “the industry continues to shift from traditional adex to digital adex”, the house said in a post-results note.
Foodie Media rose 1.5 sen or 5% to 31 sen, its third-straight day of recovery, as nearly four million shares exchanged hands on Friday.
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