[Asia Economy Reporter Yoo Hyun-seok] Ram Technology, whose stock price plummeted due to a fake company press release controversy, closed at the daily upper limit on the 24th.
On that day, Ram Technology closed at 9,630 won, up 2,220 won (29.96%) from the previous trading day.
The stock price recently experienced a rollercoaster ride. The issue was a press release impersonating the company. On the 22nd, a press release stating that Ram Technology had registered a patent related to ultra-high purity hydrogen fluoride was distributed, and this content was reported by numerous media outlets. After the first report, the stock price soared to the daily upper limit.
However, this was not issued by the company. Ram Technology announced through a disclosure the day before that "It is true that a domestic patent for 'Method and apparatus for purifying ultra-high purity hydrogen fluoride' was registered on the 1st of last month, but no related press release was distributed on the 22nd." The company explained, "The related information was already included in the quarterly report disclosed on the 15th, and we are currently investigating the distribution route, but it is suspected that an external party impersonated the company to distribute the content."
The stock price, which had soared to the daily upper limit the day before, sharply fell by 16.65% following the company's announcement. The sequence of events over three days at Ram Technology was: daily upper limit after the fake company press release was reported, sharp decline following the company's denial the next day, and a rebound to the daily upper limit again the following day.
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