Many stocks hit the ceiling price repeatedly, with companies explaining they "don't know the reason."

Many stocks have surged recently as the stock market rises. According to regulations, companies must provide an explanation when a stock price hits the ceiling limit for five consecutive sessions. However, until now, all explanations have followed a "template": the price is due to market supply and demand, the company doesn't know the cause, etc., and most investors are no longer surprised by this explanation.

When a stock hits the ceiling price for 5 consecutive sessions and the company provides an explanation as required by regulations.

For example, after 10 consecutive sessions of hitting the upper limit from February 29th to March 13th, the share price of ICF, a subsidiary of the Aquatic Products Investment Joint Stock Company, on the UPCoM exchange increased by more than 254%, from 2,400 VND to 8,500 VND per share. This was the highest increase in the market during this period. Along with the price increase, the average trading volume of ICF during the past 10 sessions reached nearly 330,000 units, 4.5 times higher than the average of the previous 10 sessions. According to the company's explanation, operations remain normal, with no changes whatsoever. "The company does not know the reason for the increase in share price," the explanation stated.

The company doesn't know why its stock price keeps hitting the ceiling limit.

Similarly, VRC shares of VRC Real Estate and Investment Joint Stock Company have unexpectedly surged to the ceiling price continuously since March 6th. VRC's share price has hit the ceiling, pushing it up to 12,000, an increase of nearly 50% in 6 sessions. Simultaneously, the average daily trading volume exceeded 200,000 shares, four times the average of the previous quarter. According to the company's explanation, the surge in share price is due to objective factors and depends on the supply and demand of the stock market. The company's business operations are also proceeding normally, and the company has not exerted any influence on the trading price of VRC shares.

Another case of a recent surge in share prices is that of Truong Long Automotive and Engineering Joint Stock Company (HTL). Specifically, HTL shares hit the ceiling price for 7 consecutive trading sessions, from January 31st to February 15th, equivalent to an increase of nearly 50% (the HNX exchange rate limit is 10%), bringing the share price from 12,200 VND to over 19,000 VND. The company explained that the surge in share price was entirely due to market supply and demand. Investors' trading decisions regarding HTL shares are beyond the company's control. The company's operations are proceeding normally, without any unusual fluctuations, and the company has no influence affecting the share price...

Source: https://thanhnien.vn/nhieu-co-phieu-tang-tran-lien-tuc-doanh-nghiep-giai-trinh-khong-biet-nguyen-nhan-185240313175439665.htm