Apec stocks doubled, tripled after "old man" appeared

Recently, the trio of Apec stocks has attracted attention with its soaring trading sessions, continuously hitting the ceiling and attracting good money. This increase coincided with the appearance of the "soul" of Apec Group, Mr. Nguyen Do Lang, at the API General Meeting of Shareholders on May 10 after being involved in a scandal of stock market manipulation in June 2023.

Notably, API of Asia- Pacific Investment Corporation has had 9 consecutive ceiling sessions. In the trading session on May 28, this code quickly increased to the ceiling price of 9.71% to 11,300 VND/share. In just the past month, API has increased 2.8 times from 4,700 VND/share to the current price range.

Average liquidity doubled compared to the previous period to about 1.4 million units/session. Of which, May 22 had the highest trading volume with more than 4 million shares.

Recent API price movements (Source: TradingView).

Also in the Apec ecosystem, APS shares of Asia- Pacific Securities JSC and IDJ shares of IDJ Vietnam Investment JSC also had positive trading sessions recently.

In just 1 month, IDJ increased 73.91% from 4,600 VND/share to 8,000 VND/share in the trading session on May 28. Average liquidity was more than 3 million units/day, of which on May 14, nearly 8 million shares were traded.

Similarly, APS also increased by 62.96% from VND5,300/share to VND8,800/share in the past month. Average liquidity is about 1.8 million units/day, of which May 22 had the highest trading volume with 3.7 million shares.

It is worth noting that these three stocks have continuously had no selling side and a ceiling price buy surplus of up to millions of units. For example, in the session on May 28, IDJ had a buy surplus of 2.3 million units, APS had a buy surplus of more than 1 million units and API had a buy surplus of 784,960 units. If it only increases to the ceiling for 1-2 more sessions, API will return to the trading range of 1 year ago. APS and IDJ have already exceeded the price range of 1 year ago.

IDJ price movement.

In the past, these three stocks have "made waves" in the market with a series of skyrocketing increases in 2021.

With APS, from a stock with an initial "ice tea" price of around VND 5,000/share, it has accelerated sharply to a historic peak of VND 59,900/share on November 18, 2021, an increase of 14 times in less than 1 year.

Along with the increase of APS, API shares of Asia-Pacific Investment Company increased 7 times and IDJ shares of IDJ Vietnam Investment Joint Stock Company also increased 5 times compared to the beginning of the year.

As of March 31, 2024, Mr. Lang is the largest individual shareholder holding 11.8 million APS shares, equivalent to 14.3% of the charter capital of this securities company.

At API, Mr. Lang is the largest shareholder holding nearly 16.5 million shares, accounting for 19.6% of charter capital, while Ms. Huynh Thi Mai Dung - Mr. Lang's wife holds nearly 8.3 million API shares, equivalent to 9.82% of charter capital.

For IDJ, Mr. Nguyen Do Lang owns 2.26 million shares, his wife owns nearly 6 million shares and his son Nguyen Do Duc Lam owns more than 1 million shares, equivalent to 1.3%, 3.42% and 0.63% of charter capital, respectively. Thus, at IDJ, his family owns more than 9.2 million shares, accounting for 5.35% of charter capital.

According to Mr. Nguyen The Minh - Director of Analysis of Yuanta Vietnam Securities Company, the reason for the shocking increase in stock prices comes from two issues. The first is the story related to that stock. At Apec, the stock price had previously dropped sharply due to the scandal of the business leader, but when Mr. Lang returned, the stock price increased because the problem had been eliminated.

The second is FOMO syndrome. When the stock hit the ceiling for the third session, it attracted the attention of investors, causing many people to have FOMO mentality to buy without caring about the business results.

Mr. Minh assessed that the three codes in the Apec family have the "form" of highly speculative stocks. However, in the coming time, it is highly likely that these stocks will move in line with the general market. Accordingly, after a period of good market growth and heading towards the old peak of 1,300 points, the pressure to adjust is likely to increase.

Therefore, investors who surf hot stocks, in this case the Apec trio, need to be cautious. However, Mr. Minh emphasized that holding or selling depends on the investor's risk appetite .

Source: https://www.nguoiduatin.vn/co-phieu-ho-apec-tang-gap-doi-gap-ba-sau-khi-nguoi-cu-xuat-hien-a665684.html