Recently, the Ho Chi Minh City Stock Exchange (HoSE) has requested a number of companies to explain why their stocks have continuously fallen to the floor for 5 consecutive sessions. Notably, there are 2 prominent names: The Golden Group JSC (code TGG) and An Giang - Angimex Import-Export JSC (AGM).
These are two entities involved in the stock manipulation case that shocked the market and was recently exposed. Regarding the case of stocks continuously falling to the floor for many sessions, the two above-mentioned enterprises have sent written explanations to HoSE.
Angimex (AGM) and The Golden Group (TGG) hit the floor for 5 consecutive sessions, must explain to HoSE (Photo TL)
In particular, Angimex said that the reason why the stock price fell to the floor for 5 consecutive sessions was due to the impact of information from the company's stock code AGM being changed from restricted to suspended trading since September 18, 2023.
The reason for AGM's stock suspension is because the company has repeatedly violated information disclosure regulations after being transferred to restricted trading status.
Regarding TGG shares of The Golden Group, this unit believes that in the past, the company has been late in submitting the audited financial statements for 2022 and the reviewed semi-annual financial statements for 2023. This led to the suspension of trading of the shares and affected the stock price.
However, The Golden Group added that the stock price has fallen to the floor for 5 consecutive sessions entirely due to market supply and demand, and investors' decisions to buy and sell shares are beyond the company's control.
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