From November 12th to 18th, shares of Danang Petroleum Machinery and Equipment JSC (Daesco, UPCoM: DAS) experienced five consecutive ceiling sessions. The stock price surged from VND 8,500 per share to VND 15,500 per share.
According to DAS’s explanation, the recent stock price increase is attributed to the market’s recovery. Trading activities are driven by investors’ decisions, which are beyond the company’s control. Currently, the company’s business operations remain stable, with no significant changes.
Previously, DAS shares had a similar streak of ceiling sessions from September 3rd to 9th. The company provided a similar explanation at that time.
On the stock market, DAS shares are trading at VND 14,600 per share as of the morning session on November 19th. Liquidity remains low, with only around 500 shares traded per session over the past year. During the recent ceiling sessions, trading volume reached 3,000 shares per session.
Danang Petroleum Machinery and Equipment JSC, formerly known as Danang Equipment and Spare Parts Company, was established in 1983 as a subsidiary of the Machinery and Spare Parts Corporation (Machinolmport) under the Ministry of Trade. The company specialized in receiving and distributing automobiles, construction machinery, spare parts, and other materials nationwide. In 2006, the company underwent equitization, and DAS shares began trading on UPCoM in September 2014.
For 2025, DAS has set a revenue target of VND 762.7 billion, a nearly 10% increase compared to the previous year. However, the post-tax profit target remains flat at VND 4.2 billion.
During the trading session on November 19th, DAS shares briefly hit the ceiling price of VND 17,800 per share but surprisingly closed at VND 14,000 per share, a 9.68% decrease from the reference price of VND 15,500.
DAS stock price movement on November 19th. Source: FireAnt
Notably, despite the price volatility, DAS shares’ trading volume remains insignificant. On November 19th, only 5,200 shares were traded, and the average trading volume over the past 10 sessions is a mere 1,940 shares per day.
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