LDG Investment Joint Stock Company's stock has hit the ceiling increase of 12 out of the last 13 trading sessions. In the remaining session, the stock price remained at the reference price.

The surge began on 26/6, coinciding with the company's annual general meeting of shareholders. The stock price jumped from 2,500 VND to 5,520 VND, a 120% increase, far exceeding the VN-Index's 7% gain during the same period.

The sharp increase was accompanied by a surge in trading volume. The average matched order volume in the last 10 sessions was around 10.5 million shares. Notably, the trading session today (14/7) recorded a trading volume of 41.8 million shares, equivalent to 230 billion VND.

LDG price chart from the beginning of the year to present. Screenshot.

LDG's leadership has twice explained this series of ceiling increases to the Ho Chi Minh City Stock Exchange (HoSE).

In a document dated 2/7, Ngo Van Minh, Chairman of the Board of Directors and legal representative of LDG, said the first five ceiling increases in the series were the result of objective supply and demand on the stock market and were beyond the company's control.

The head of LDG affirmed that the company's operations were proceeding normally and there were no impacts affecting the stock price. He mentioned that the company had just held its annual general meeting and "approved many development-oriented contents" such as electing members of the Board of Directors for the new term, promoting cooperation with strategic partners for project development, and completing legal procedures for key projects.

On 10/7, Mr. Minh signed a second explanation regarding the price surge. The company representative said the continued series of ceiling increases was still due to market supply and demand, reflecting investor optimism.

"The important contents approved by the annual general meeting of shareholders have been positively received by the market, thereby contributing to supporting the trading trend and stock price movements," Mr. Minh wrote.

At the annual general meeting in late June, Tran Cong Luan, Member of the Board of Directors and General Director, shared that the Board of Directors always hopes for a high stock price, as this increases the enterprise's value and improves capital mobilization. However, due to legal and financial issues, as well as general market difficulties, the stock price decreased and has recently been gradually improving.

"I am confident that from now until the end of the year, the stock price will see better progress and improvement," Mr. Luan said at the meeting.

This year, LDG aims for a revenue of 1,822 billion VND, an increase of more than 11 times compared to the previous year, while profit after tax is expected to increase more than 36 times to nearly 92 billion VND. In the first quarter, the company earned 77 billion VND, 7 times higher than the same period last year, while profit after tax reached over 12 billion VND.

Phuong Dong