[Featured Stock] CJ CheilJedang Reverses from 4% Drop to 4% Gain During Trading

[Asia Economy Reporter Oh Ju-yeon] CJ CheilJedang's stock price showed a fluctuation of up to 8 percentage points during trading on the 12th.

On that day, CJ CheilJedang's stock price started the session at 305,500 KRW, down 4.53% from the previous day due to a sharp decline in the stock market, but then reduced the loss and even rose by 4% during the morning session, trading at 333,500 KRW.

The stock market fell sharply by over 4% that day as global markets, led by the U.S. stock market, dropped significantly amid concerns over the resurgence of the novel coronavirus infection (COVID-19).

Since the sharp drop on March 19 due to COVID-19, CJ CheilJedang has rebounded sharply, supported by expectations of increased demand for home meal replacements (HMR).

The stock price, which was 148,000 KRW during trading on March 19, more than doubled to 320,000 KRW based on the previous day's closing price.

As of 11:03 a.m. on that day, CJ CheilJedang's stock price was trading at 328,500 KRW, up 2.66% from the previous day.