D17’s Consistently Surging Stock: A 390% Increase in Just 3 Weeks

D17 Joint Stock Company (UPCoM: D17) has recently issued a statement regarding the consecutive 5-day limit-up of D17 stock price from 18-24/01/2024.

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According to D17, the reason for the stock price increase is due to investor trust, leading to high market demand. At the same time, D17 affirms that investor trading decisions regarding D17 stock are beyond control and the company has no direct impact on market trading prices.

Trading statistics of D17 from January 8, 2024

Volume: shares, Value: million VND
Price (+/-) and % Price (%) calculated based on closing price and reference price

Nearly 5.3 million D17 shares were recently traded on UPCoM since January 8, 2024, after receiving approval from HNX at the end of 2023, at a price of 22,000 VND/share, equivalent to a market capitalization of nearly 116 billion VND.

In fact, from January 17 (the day trading commenced after 7 sessions with no liquidity) until now (end of the morning session on February 1, 2024), D17 stock has had 10 limit-up sessions, bringing the D17 stock price to 107,800 VND/share, equivalent to a market capitalization of nearly 567 billion VND, a 390% increase. It is worth noting that trading volume per session is usually around 100 shares, even just a few shares.

According to the company’s information disclosure, the major shareholders of D17 as of September 8, 2023 include Dong Hai Limited Liability Company holding 45% (2.37 million shares), Tan Phong Petroleum and Construction Joint Stock Company and Ngoc Hanh Construction Limited Liability Company each holding 22.1% (equivalent to 1.16 million shares).

Source: Shareholders’ list on September 8, 2023 of the Company

In the first 6 months of 2023, D17 had a net revenue of 36 billion VND and a post-tax profit of 11 billion VND, corresponding to a decrease of 32% and 28% compared to the same period last year. The company’s asset scale as of June 30, 2023 was over 176 billion VND and liabilities were nearly 61 billion VND.

The main business activity of D17 is mining rocks, sand, gravel, and clay. In addition, D17 also engages in real estate business and land use rights belonging to owners, users, or tenants; construction of residential houses, non-residential buildings, road works, and other civil engineering works.

Kha Nguyen

SOURCEvietstock
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