Yeg explained

The Ho Chi Minh City Stock Exchange (HoSE) has requested Yeah 1 Group Joint Stock Company (YEG) to explain why YEG shares experienced five consecutive days of hitting the upper limit price from December 17th to December 23rd.

HoSE demands explanation from the producer of "Brother Overcoming a Thousand Obstacles"

The Ho Chi Minh City Stock Exchange (HoSE) has requested Yeah 1 Group Joint Stock Company (YEG) to explain why YEG shares experienced five consecutive days of hitting the upper limit price from December 17th to December 23rd.

On the morning of December 24th, YEG shares continued to trade at the ceiling price of 21,700 VND/share before adjusting downwards.

Yeah 1 falls under the category requiring explanation according to Clause 1q, Article 11 of Circular 96/2020/TT-BTC.

YEG's stock price surged to the ceiling limit over 5 consecutive sessions.

In September 2024, Yeah1 approved a share offering to existing shareholders at a ratio of 40%, with a price of VND 10,000 per share, expected to be implemented in the third or fourth quarter of 2024, after approval from the State Securities Commission.

Yeah1 will offer more than 54 million shares to raise VND 548 billion. The funds raised will be used as follows: VND 211 billion to pay for capital contributions to 1Production Co., Ltd., VND 127 billion to repay loans used to purchase shares in Yeah1 Edigital JSC, VND 100 billion to repay loans used to purchase shares in Netlink Vietnam Technology Media JSC, VND 62.4 billion to repay loans from Vietinbank , and VND 47.46 billion to supplement capital for the company's regular business operations.

YEG shares surged following the popularity of the "Brother Overcoming a Thousand Obstacles" program, especially the success of concerts in Ho Chi Minh City and Hung Yen with massive ticket sales.

According to expert Le Ngoc Nam, Director of Analysis at Stockmap, a technical analysis application that tracks money flow in the stock market, it is not advisable to buy new YEG shares because the stock price has already risen too much and is already too high. Sometimes, such a sharp increase in stock prices can create liquidity traps, releasing news to create FOMO (fear of missing out) sentiment.

YEG shares attract investor capital due to its focus on producing high-quality entertainment programs with cultural value that appeal to a wide audience of all ages. The "Brother Overcoming a Thousand Obstacles 2025" program is preparing to launch.

Yeah1 must explain why its stock price hit the ceiling limit within 24 hours of the request for explanation.

Source: https://baodautu.vn/hose-yeu-cau-nha-san-xuat-anh-trai-vuot-ngan-chong-gai-giai-trinh-d234833.html