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Constantly moving sideways, boomed to the ceiling and then lay on the floor

Closing the session on April 21, ALV shares of ALVICO Construction Joint Stock Company stood at 12,500 VND/share, down to the floor 14.38%, equivalent to 2,100 VND per share “flying”. The deep decrease caused ALVICO’s market capitalization to be “washed away” by more than 11.8 billion dong after only 1 trading session.

Strange stocks: Continuously moving sideways, boomed to the ceiling and then stayed on the floor - 1

Construction stock ALVICO has been erratic for more than 1 week. (Photo: ALV)

The fact that ALVICO stock plunged without stopping surprised many investors because this code has just gone through a series of 4 consecutive days of ceiling increases. Specifically, in the trading sessions from April 13 to 19, the ALV code increased by 97%, helping each share to have an additional 6,800 dong. The “terrible” increase in a short time has helped increase the corporate market capitalization by more than 38 billion dong.

However, like small-cap stocks with sudden sudden price increases, ALV’s liquidity is quite low and erratic. In the last 8 trading days, the average volume of shares traded was only about 152,140 units, of which the maximum number of shares was 429,301 units per day, and the minimum daily volume was 7,901 units.

Not only that, this code experienced a long series of days going sideways at the price of 6,800 dong/share, the liquidity was almost “frozen”.

ALVICO, formerly known as Vinas A Luoi Minerals Joint Stock Company, was established in 2008. ALV’s main business activities are construction of traffic, civil, industrial, quarrying and production works. building materials. In addition, the enterprise participates in financial investment, operating under the model of a public joint stock company.

The financial statements show that, in 2021, ALV’s net revenue will reach more than 100.8 billion dong, down slightly over the same period; profit after tax reached VND 5.6 billion, a sharp increase compared to 2020.

Total assets of ALV at the time of reporting were VND 89.2 billion, down 21.8% compared to the beginning of the year.

Currently, ALVICO has more than 17.7 billion dong of liabilities, of which short-term debt is more than 12.2 billion dong, long-term debt is more than 5.5 billion dong.

Closing the session on April 21, VN-Index down 14.51 points to 1,370.21 points. The whole floor had 132 gainers, 311 losers and 58 standstill stocks.

HNX-Index down 13.43 points to 366.61 points. The whole floor had 47 gainers, 189 losers and 39 standstill stocks.

UPCoM-Index dropped 1.51 points to 104.89 points.

Market liquidity increased strongly compared to yesterday. Total matched value reached 24,948 billion dong, up 10.7%, of which, matched value on HoSE alone increased by 13.24% to 21,982 billion dong. Foreign investors this session boosted their net buying of over 900 billion dong.

According to experts from Stock In ASEAN (AseanSC), the market’s downtrend slowed down in the session, bottom-fishing demand increased, and liquidity increased quite well and was higher than the 20-day average. The market will soon have technical recovery sessions in the near future.

It is forecasted that in today’s trading session April 22, bottom-fishing demand at the support area near 1,360 – 1,370 points can help VN-Index recover again in the morning session, to test the resistance area near 1,380 – 1,390 points. , and beyond is the resistance zone of 1,400 – 1,410 points.

However, the shaking may occur at high price, causing VN-Index to narrow its gaining momentum towards the end of the day.

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