After two days of sharp falls, Harvest Court Industries Bhd today recovered 30 percent of its share price, surprising many investors.

The shares and warrants jumped up to RM1.36 and RM1.15 respectively when the market closed today at 5pm, a rise of nearly one-third from yesterday’s RM1.04 and RM0.89.

azlan Harvest’s stock price dropped dramatically after it was declared ‘designated securities’ by Bursa Malaysia on Tuesday and suspended trading for the day.

Despite a statement by one of the company’s shareholders - the prime minister’s second son Mohd Nazifuddin Najib - that his investment in the company is accordance with regulations and free from any government preferential treatment, the price tumbled for 30 percent on both Wednesday and Thursday .

The timber company, which had struggled with weak financial performance over the last few years, rose to become the top performer in Bursa Malaysia soon after it appointed Nazifuddin and business partner Raymond Chan as its directors on Oct 28.

The company’s share price had seen a surge of 2,563 percent from the 8sen recorded on Oct 13.

On Tuesday, Bursa Malaysia declared Harvest’s stock and warrant as ‘designated securities’ which means that the trading of the counter will require investors to pay cash upfront on purchase - a move aimed at curbing excessive speculative activity.