Apec stocks doubled, tripled after "old man" appeared

Recently, the trio of Apec Group stocks have attracted attention with their soaring trading sessions, consistently hitting the ceiling price and attracting significant investment. This surge coincides with the appearance of Mr. Nguyen Do Lang, the "soul" of Apec Group, at the company's Annual General Meeting on May 10th, after being embroiled in a stock market manipulation scandal in June 2023.

Notably, API, the stock of Asia Pacific Investment Joint Stock Company, has seen nine consecutive days of hitting the ceiling price. On May 28th, the stock surged to its ceiling price, rising 9.71% to 11,300 VND per share. In just the past month, API has increased 2.8 times, from 4,700 VND per share to its current price.

Average liquidity doubled compared to the previous period, reaching approximately 1.4 million units per session. Of these, May 22nd saw the highest trading volume with over 4 million shares traded.

Recent price movements of API (Source: TradingView).

Within the APEC ecosystem, APS shares of Asia Pacific Securities Joint Stock Company and IDJ shares of IDJ Vietnam Investment Joint Stock Company have also seen positive trading sessions recently.

In just one month, IDJ's share price increased by 73.91%, from 4,600 VND/share to 8,000 VND/share as of the trading session on May 28th. Average daily trading volume exceeded 3 million units, with nearly 8 million shares changing hands on May 14th alone.

Similarly, APS also increased by 62.96% from VND 5,300/share to VND 8,800/share in the past month. Average liquidity was approximately 1.8 million units/day, with May 22nd having the highest trading volume at 3.7 million shares.

Notably, these three stocks consistently had no sellers and millions of units of buy orders at the ceiling price. For example, on May 28th, IDJ had a buy order surplus of 2.3 million units, APS had a buy order surplus of over 1 million units, and API had a buy order surplus of 784,960 units. Just one or two more consecutive days of hitting the ceiling price would bring API back to its trading range from a year ago. Meanwhile, APS and IDJ have already surpassed their prices from a year ago.

IDJ's price movement.

In the past, these three stocks dominated the market with a phenomenal surge in 2021.

With APS, from an initial "penny stock" price of around 5,000 VND/share, it experienced a rapid surge to a historical peak of 59,900 VND/share on November 18, 2021, a 14-fold increase in less than a year.

Along with the surge in APS shares, API shares of Asia Pacific Investment Company have increased sevenfold, and IDJ shares of IDJ Vietnam Investment Joint Stock Company have also increased fivefold compared to the beginning of the year.

As of March 31, 2024, Mr. Lang was the largest individual shareholder, holding 11.8 million APS shares, equivalent to 14.3% of the securities company's charter capital.

At API, Mr. Lang is the largest shareholder, holding nearly 16.5 million shares, accounting for 19.6% of the charter capital, while his wife, Ms. Huynh Thi Mai Dung, holds nearly 8.3 million API shares, equivalent to 9.82% of the charter capital.

Regarding IDJ, Mr. Nguyen Do Lang owns 2.26 million shares, his wife owns nearly 6 million shares, and his son, Nguyen Do Duc Lam, owns over 1 million shares, equivalent to 1.3%, 3.42%, and 0.63% of the charter capital, respectively. Thus, in IDJ, his family owns more than 9.2 million shares, accounting for 5.35% of the charter capital.

According to Mr. Nguyen The Minh, Director of Analysis at Yuanta Vietnam Securities, the reason for the sharp increase in stock prices stems from two issues. Firstly, it concerns the story related to the stock itself. At Apec Group, the stock price had previously fallen sharply due to controversies surrounding the company's leadership. However, after Mr. Lang returned, the stock price rose because the issues were resolved.

Secondly, there's the FOMO syndrome. When a stock hits its upper limit for the third consecutive session, it attracts the attention of investors, causing many to chase the price with FOMO, regardless of the company's business results.

Mr. Minh assessed that the three stocks belonging to the Apec group have the "character" of highly speculative stocks. However, in the coming period, these stocks are likely to move in line with the overall market. Accordingly, after a period of strong market growth and heading towards the previous peak of 1,300 points, the pressure for correction is likely to increase.

Therefore, investors who are day trading hot stocks, in this case the APEC trio, need to be cautious. However, Mr. Minh emphasized that whether to hold or sell depends on the investor's risk tolerance .

Source: https://www.nguoiduatin.vn/co-phieu-ho-apec-tang-gap-doi-gap-ba-sau-khi-nguoi-cu-xuat-hien-a665684.html