Investors holding FLC shares suffer heavy losses

SGGP
In the stock trading session on January 14, the selling pressure on the market decreased, helping the VN-Index sometimes regain the green color. However, because there was no leading stock after a series of real estate stocks plummeted heavily, Vietnam’s benchmark still closed on a low note.
Particularly, FLC shares and stocks in the FLC family, namely ROS, HAI, KLF, AMD, and ART, continued to be sold at the floor price since the market opened, but there were no buyers. This group of stocks has been locked at the floor price for the fourth consecutive trading session since Mr. Trinh Van Quyet, Chairman of the Board of Directors of FLC, illegally sold nearly 75 million FLC shares.

Currently, all securities companies on the market have cut margin for stocks in the FLC family, so this is also one of the reasons for this group of stocks to lose liquidity for many consecutive trading sessions. In four trading sessions, FLC stock lost about 30 percent, causing tens of thousands of investors holding this stock to suffer heavy losses.

At the end of the trading session, the VN-Index slid 0.03 points to close at 1,496.02 points. On the Hanoi Stock Exchange, the HNX-Index gained 6.03 points to finish at 466.86 points. Market liquidity fell by nearly 26 percent compared to the previous session, with the total matched value reaching more than VND25.03 trillion.

By Nhung Nguyen – Translated by Thuy Doan

Related news

Other news