VNG shares recover strongly

After a strong correction, VNZ shares of VNG Corporation are recovering quickly with two consecutive ceiling price sessions, bringing the market price from 334,500 VND to 409,600 VND.

VNG Corporation (stock code: VNZ) shares closed the morning session on September 12 at 409,600 VND, increasing the maximum amplitude compared to the reference to extend the upward streak for the second consecutive session. VNZ continues to be the stock with the highest market price on the UPCoM floor to date.

The matched volume on the morning of September 12 reached 6,280 shares, equivalent to about 2.5 billion VND. Market capitalization thus increased to 11,770 billion VND.

The recovery was recorded after the company's board of directors announced an explanation as requested on September 9 by the Hanoi Stock Exchange (HNX) regarding the appointment of the Acting General Director .

VNG Company confirmed that Mr. Wong Kelly Yin Hong was not appointed as reported in the article. Currently, Mr. Wong Kelly Yin Hong is performing the assigned tasks from Mr. Le Hong Minh to support the management, ensure the operation of the company, as well as protect the rights and interests of shareholders.

In addition, VNG Corporation said that production, business and management activities are taking place normally. The company has not received any official documents from state agencies related to the information mentioned in the press.

Before the market price recovered, VNZ shares experienced 4 consecutive sessions of decline, causing the market price to fall from 520 VND to 334,500 VND, the lowest level since the company was listed on the stock exchange (just after the reference price of the first trading session of 240,000 VND). Liquidity in these declining sessions also skyrocketed, with one session recording more than 35,000 shares being traded while the previous average matching volume was under 1,000 shares per session.

According to VNG's financial report, revenue in the first half of this year reached 4,314 billion VND. Sharing about the business results when announcing the financial report, Mr. Le Hong Minh said that it will be a huge challenge for the VNG team in the last 6 months of the year when they have to simultaneously balance financial goals with business growth goals.

Source: https://baodautu.vn/co-phieu-cua-vng-hoi-phuc-manh-d224739.html