The most expensive stock on HNX fell 51% in a month

Today is the fourth consecutive losing session of L14, of which three sessions lost all 10% range.

In the past one month, this stock has traded 19 sessions, more than half of which closed with a drop of over 5%. This caused the price to fall quickly from the 318,000 area to the current level.

If calculated from the peak of 484,000 VND set four months ago, the price decreased by 68%, which means each share “evaporated” 330,000 VND.

L14 is the stock code of Licogi 14 Joint Stock Company – an enterprise operating mainly in the field of construction, real estate trading and services. This stock started a hot rally from September 2021, when the price was struggling around VND 87,000-90,000, it bounced up to VND 300,000 in just three months. The uptrend cooled down for a month and then continued to skyrocket and hit a peak of 484,000 dong. To buy and match this stock on the Hanoi Stock Exchange, investors then needed at least about 50 million dong.

L14 has long been the most expensive stock on all three stock exchanges (HoSE, HNX, UPCoM) but the business results are relatively modest. Last year, the company recorded consolidated revenue of VND 564 billion and profit after tax of VND 372 billion. The company aims to collect 569 billion dong this year and reduce after-tax profit to 254 billion dong.

Licogi 14 has total assets of 1,280 billion VND, of which nearly 800 billion VND are investments in stocks. As a result, in the first three months of the year, the company recorded a revenue of VND 29 billion, but profit after tax was up to VND 112 billion due to profit from investment activities.

Eastern