VNZ shares of VNG Corporation plummeted

Opening the trading session on the weekend of September 6, the Vietnamese stock market hovered below the reference level, at one point dropping sharply to nearly 1,260 points. However, in the afternoon session, strong demand helped the market regain green.

At the end of the session, VN-Index increased by 5.75 points to 1,273 points. HOSE floor had 192 stocks increased and 212 stocks decreased.

The VN30 basket of large-cap stocks increased by 6 points, closing at 1,315 points. In the group, 22 codes increased in price such as MSN (+2.6%), VRE (+2%)... On the contrary, there were 6 codes closing in red, including SSB (-2.7%), VIC (-0.9%), HDB (-0.7%)...

With the market’s late-session recovery, many stock groups have turned from red to green, but the level of volatility is still quite narrow. Oil, gas, steel, food, technology stocks… are the groups supporting the market.

VNZ stock fluctuations in recent times Source: Fireant

In the trading session on September 6, VNZ shares of VNG Corporation attracted investors' attention when they decreased to 437,800 VND/share.

In the afternoon session, the decline was narrowed and VNZ shares closed at 480,000 VND/share, down 6.8% compared to the reference price. Compared to the beginning of the year, this stock decreased by nearly 24%.

Notably, VNZ stock liquidity also increased dramatically with more than 16,000 shares matched, equivalent to a transaction value of more than 7 billion VND.

VNZ shares officially traded on the UpCoM floor in early 2023 at VND240,000/share, then increased to a record price of VND1.4 million/share, then continuously decreased.

VNG once planned to list on the US stock exchange but later announced it would postpone the plan.

Regarding business performance, in the first 6 months of 2024, VNG achieved net revenue of VND 4,314 billion, up nearly 30% over the same period. After deducting expenses, VNG reported a loss after tax of VND 585.7 billion, while in the same period last year it lost more than VND 1,205 billion. Notably, this is the 11th consecutive quarter of loss for this company.

As of the end of June 2024, VNG's cash and cash equivalents portfolio was worth about VND 3,340 billion, down nearly VND 500 billion compared to the end of 2023, mainly due to bank deposits.

VNG is a large online gaming business and service provider in Vietnam. This company is famous for releasing popular games such as Vo Lam Truyen Ky, Kiem The...

In addition, VNG also operates in many other technology fields such as computer programming, software production, commercial advertising...

In particular, VNG is also the owner of the Zalo platform - the most popular messaging and calling application in Vietnam, the ZaloPay e-wallet application, and has also entered the field of artificial intelligence.

Source: https://nld.com.vn/co-phieu-vnz-cua-cong-ty-cp-vng-lao-doc-manh-196240906181408801.htm