Saturday , December 10 2022

Realty company stock price doubles in 2 weeks

The Central Power Real Estate JSC stock hit the price ceiling for 11 consecutive days in September despite making no changes to its business activities.

On the Ho Chi Minh Stock Exchange, LEC rose from VND7,000 -14,550 ($0.29-0.61) by month-end though there was otherwise a sell-off by both domestic and foreign investors.

But trading volumes in LEC were tiny, ranging between 4,000 and 25,000 shares a day.

Pham Ngoc Binh, a member of the company’s board of directors, wrote to HoSE to claim the rise was attributable merely to supply and demand.

In the first half of the year, sales halved from a year earlier to VND110 billion and profits were less than VND200 million.

LEC listed in 2017, and has a market capitalization of around VND250 billion. The Da Nang company is in real estate and construction and has 88 employees.

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