After the ceiling price increase, VNG stock fell to the floor, no buyers

On February 17, as soon as the stock market opened for trading, VNZ shares of VNG Corporation fell to the floor price of 1,219,500 VND/share. Correspondingly, one share decreased by 215,200 VND compared to the reference price.

From then until the end of the session, sell orders dominated and a total of 800 shares were matched. The buying side was empty and at the end of the session, the remaining sell orders at the floor price reached 7,400 shares.

VNG shares have hit the floor since the morning of February 17.

With the lack of liquidity, those who bought VNZ shares from the price of 1,027,400 VND/share to more than 1,358,000 VND (on days with transactions of over 5,000 - 6,000 shares) will not be able to sell their shares. The history of many stocks in the past, after a series of consecutive days of ceiling price increase, will also have a series of consecutive days of decline when they turn around.

In contrast to VNZ, the VN-Index closed the weekend session in green, adding 1.02 points to 1,059.31 points. Although the VN-Index spent most of today's trading session "sinking" below the reference, many real estate and construction stocks recovered afterward. From blue-chip codes such as VIC, VHM, NVL to small and medium-sized stocks such as LCG, VCG, CII, DXS, FDC... all ended the session in green. For example, VIC, from a price of 53,000 VND, down from the reference, jumped to 53,500 VND, up 0.19%. In addition, bank stocks such as VCB also increased in the last 3 price steps. BID also increased by 1.78%...

Overall, real estate stocks increased by 0.56% and banking stocks increased by 0.53%, which was the main reason for the VN-Index's rebound at the end of the session. Investors' general trading remained cautious, causing liquidity to remain low. The total value of the two listed floors reached more than VND7,800 billion, only 50% of the average trading value per session in the past year.

On the morning of February 17, Prime Minister Pham Minh Chinh chaired an online conference on developing a healthy real estate market and many ministries and experts proposed a number of solutions for implementation. This could be a reason to help real estate and construction stocks avoid being sold off as strongly as in recent sessions...

Source: https://thanhnien.vn/het-tang-tran-co-phieu-vng-rot-san-trang-ben-mua-185230217165353189.htm