The first trading week of October ended with many fluctuations when receiving a lot of negative information, VN-Index decreased by 25.61 points, equivalent to 2.22% to 1,128.5 points.
At the end of the trading session on October 6, the market no longer had a sudden drop like the previous sessions and returned to a gentle movement with cautious and quiet trading by investors. VN-Index increased slightly by 2.74 points to 1,116.83 points.
One of the stocks that went against the market trend was YEG of Yeah1 Group Joint Stock Company, which had a series of successful days with 4 out of 5 sessions hitting the ceiling price during the week.
From October 2 to 6, YEG's market price increased from VND 11,950/share to VND 15,300/share, equivalent to an increase of 28.03% and became the stock with the strongest increase on HoSE last week. Of which, the session on October 6 had the highest trading volume with 483,800 million units.
On the stock market, YEG was once a “stormy” stock when it was officially listed on HoSE in 2018 with a reference price of VND250,000/share. On the first day of listing, YEG shares increased by 20% and had some sessions of sudden increase to VND350,000/share.
After the Youtube incident in 2019, Yeah1's stock and business results plummeted, causing YEG's market price to drop to just over 10,000 VND/share.
YEG stock price movement (Source: FireAnt).
One of the driving forces that caused YEG shares to “take off” is the shareholder proposal to approve the plan to issue shares to increase equity capital from owner’s equity to increase charter capital. Accordingly, on October 16, Yeah1 will close the list of shareholders to collect written opinions, the time for collecting opinions is from October 20 to 30. However, the detailed proposal has not yet been announced by the company.
In addition, in mid-September, Yeah1 successfully offered 45 million YEG shares to 15 investors at VND10,000/share to raise VND450 billion.
Of the VND450 billion collected, Yeah1 will use nearly VND290 billion to supplement working capital, VND137 billion to contribute capital to 1Production LLC, and VND23 billion to contribute capital to Yeah1 Up LLC.
Notably, the information that new General Director Ngo Thi Van Hanh informed Yeah1 that she is a member of the production crew of the reality TV show "Beautiful Sister Who Makes the Waves 2023" also made many people more interested in the business.
Through investment and program production, the new CEO of Yeah1 aims to be a milestone in turning the business into a high-end content producer .
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