Yeah1 stock price plummets after a series of hot increases after the concert "Anh trai tran van ngan truc thorn"

YEG stock of Yeah1 Group Corporation is creating a pine tree chart after a series of consecutive ceiling and floor price sessions.

Yeah1 stock "falls" after a series of hot increases after the concert "Anh trai qua ngan cong gai"

YEG stock of Yeah1 Group Corporation is creating a pine tree chart after a series of consecutive ceiling and floor price sessions.

The last trading session of 2024 marked a 7% floor drop for YEG.

Right from the morning session, this stock was in a state of being sold at the floor price, bringing the price down to 18,600 VND/share at the closing session. Today, foreign investors also net sold more than 10 billion VND of this stock.  

Previously, YEG also had 3 consecutive sessions of decline, including 2 sessions of floor price decline (December 26-27). Thus, within just 4 trading sessions, YEG lost 20% of its value.  

Notably, this stock has increased rapidly when it continuously traded at the ceiling price for 7 consecutive sessions from December 17-25, causing this stock to increase from 14,000 VND to over 23,000 VND/share, equivalent to an increase of 65%.  

This increase is believed to come from positive information after the concert “Anh trai vu ngan cong gai” (The brother who overcomes thousands of obstacles) held in Hung Yen on December 14. According to regulations, Yeah1 is required to explain when its stock price has increased to the ceiling for 5 consecutive sessions.  

Yeah1 said that the consecutive ceiling increases were due to objective developments in supply and demand in the stock market. The company's business activities are still taking place normally, according to the set plan and without any unusual fluctuations.  

Yeah1 also said that in recent times, the company has actively focused on its core business areas, including the production and broadcasting of programs on digital platforms, high-quality television programs and received support from the audience, contributing to improving the company's business results compared to the previous period. Yeah1 also committed to not having any impact on the trading price of YEG shares on the stock market.  

After the explanation was announced, YEG stock continued to increase to the ceiling for 1 session and suddenly turned around and decreased to the floor. Looking at the chart, YEG is creating a pine tree pattern, a risky pattern for investors.  

YEG shares fall after hot increase.

Previously, YEG's continuous "hot growth" made many people worry about the sustainability of this growth. Regarding the health of the business, the third quarter financial report showed positive profits and expected good profits in the fourth quarter thanks to music shows attracting viewers. However, receivables account for 66% of Yeah1's asset structure, which is a big problem that the business faces when allocating assets inappropriately.  

According to the capital increase plan, Yeah1 plans to issue 54.8 million shares (equivalent to 40% of the outstanding shares) to existing shareholders. The charter capital will increase from VND1,370 billion to VND1,900 billion, the company will earn VND548 billion if the issuance is successful. According to the capital use plan, Yeah1 will use VND290 billion to pay off loans.

Source: https://baodautu.vn/co-phieu-yeah1-do-deo-sau-loat-phien-tang-nong-hau-concert-anh-trai-vuot-ngan-chong-gai-d237377.html