More than 39 million LDG shares hit floor price

After the news of LDG Chairman Nguyen Khanh Hung's arrest, the company's stock code was at the floor from the beginning to the end of the session with more than 39 million shares left for sale.

LDG shares fell to the floor price right at the opening of today's trading session and remained there until the end of the session. At VND3,450, the market price of this code has lost nearly half of its peak of the year - VND6,370 per share at the end of July.

LDG's liquidity was only over 3 billion VND with a small number of matched orders, most of the trading time was "empty" on the buying side. On forums and stock groups, many investors called on each other to "run away". By the end of the day, this stock had over 39.4 million shares left to sell on the floor.

LDG Investment Joint Stock Company's stock code fell after the news that Mr. Nguyen Khanh Hung, Chairman of the Board of Directors, was arrested on charges of defrauding customers in the case of 488 illegally built villas. This is the Tan Thinh Residential Area project (Trang Bom, Dong Nai) which has not been allocated land and changed its purpose of use, has not been granted a construction permit and has many violations in land acquisition, compensation, support, and resettlement.

Recently, LDG said that the company is still operating normally. The board of directors affirmed that Mr. Hung's arrest has not changed or affected LDG's plans, strategies, production, business and investment activities. "The legitimate rights and interests of customers, shareholders and partners who are transacting and cooperating with the company are still guaranteed," the company's announcement stated.

Investors are monitoring LDG stock as this code continuously has no buyers. Photo: Tat Dat — Investors are monitoring LDG stock as this code is continuously "empty" on the buying side. Photo: *Tat Dat*

LDG is one of three stocks that fell by the full range on the HoSE. Overall, the market today showed a clear tug-of-war as the number of stocks increasing and decreasing in price was quite equal, 254 stocks and 227 stocks, respectively.

In the morning, VN-Index remained predominantly green but investors traded less than yesterday. The market was mostly in a state of "green on the outside, red on the inside". Selling pressure increased towards the end of the session, pulling the index close to the reference level.

The red color remained in the early afternoon. At around 2 p.m., the HoSE representative index turned green again. The VN-Index gradually increased and closed the session at over 1,102 points, up more than 8 points compared to yesterday.

With large cash flows, the securities group supported the market. High liquidity codes such as VIX, SHS, VND, VCI all increased by more than 1%. SSI alone had the second highest trading value in the market (more than 635 billion VND) and closed 2.2% higher than the reference price.

Food and beverage stocks also performed quite positively. VNM and DBC increased by 1.5% and 1.6% respectively. Liquidity was lower, with KDC and SBT increasing by 5.2% and 5.3% respectively compared to yesterday. HAG alone nearly reached its ceiling price when it accumulated 5.8% in market value.

The chorus of rising scores and falling liquidity recurred. Total transaction value on the HoSE floor decreased by more than VND3,000 billion, reaching about VND12,200 billion. The Ho Chi Minh City market had a consecutive week recording liquidity below VND20,000 billion.

Foreign investors continued to prioritize selling off their stocks when the difference compared to buying prices reached about 310 billion VND. This is the third consecutive session that this group has been net sellers.

Siddhartha

Source link