Most notably, API of Asia-Pacific Investment Corporation has dropped to the floor price of VND10,200/share with 2.4 million units remaining for sale. Previously, this code had increased rapidly from VND4,700/share to VND11,300/share in just 1 month with many consecutive ceiling price sessions.
Also in the Apec ecosystem, APS shares of Asia-Pacific Securities JSC and IDJ shares of IDJ Vietnam Investment JSC also had a gloomy trading session on May 29 after a series of positive increases.
At the end of the session on May 29, APS dropped to the floor price of 9.09% to VND8,000/share with 1.8 million units remaining for sale. Previously, this code had increased by 62.96% from VND5,300/share to VND8,800/share in the past month.
Similarly, IDJ decreased by 8.75% to VND7,300/share and had over 2.24 million units for sale. In just the previous month, IDJ increased by 73.91% from VND4,600/share to VND8,000/share in the trading session on May 28.
Recent API price movements (Source: TradingView).
It is worth mentioning that recently, these three stocks have continuously had no sellers and a ceiling price buy surplus of up to millions of units before hitting the floor and having a sell surplus of millions of units.
In the past, this trio of stocks "made waves" in the market with a series of skyrocketing increases in 2021.
With APS, from a stock with an initial "ice tea" price of around VND 5,000/share, it has accelerated sharply to a historical peak of VND 59,900/share on November 18, 2021, an increase of 14 times in less than 1 year.
Along with the increase of APS, API shares of Asia-Pacific Investment Company increased 7 times and IDJ shares of IDJ Vietnam Investment Joint Stock Company also increased 5 times compared to the beginning of the year.
APS price movement.
According to Mr. Nguyen The Minh - Director of Analysis of Yuanta Vietnam Securities Company, the reason for the shocking increase in stock prices comes from two issues. The first is the story related to that stock. At Apec, the stock price had previously dropped sharply due to the scandal of the company's leaders, but when Mr. Lang returned, the stock price increased because the problem had been eliminated.
The second is FOMO syndrome. When the stock hit the ceiling for the third session, it attracted the attention of investors, causing many people to have FOMO mentality to buy without caring about the business results.
Mr. Minh assessed that the three stocks in the Apec family have the "form" of highly speculative stocks. However, in the coming time, it is highly likely that these stocks will move in line with the general market. Accordingly, after a period of good market growth and heading towards the old peak of 1,300 points, there is a high possibility that the pressure to adjust will increase.
Indeed, the decline of Apec stocks coincided with the market reversal in the trading session on May 29 due to increased selling pressure. In the afternoon session, the VN-Index plummeted 9.09 points to 1,272.64 points, equivalent to a decrease of 0.71%.
Most industry groups were in red, with only a few industries such as telecommunications, consumer services, and industry remaining green with a narrow increase .
Source: https://www.nguoiduatin.vn/apec-stock-price-price-to-sell-millions-of-dons-a665885.html
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