[Featured Stock] Ahn Cheol-soo's Candidacy in Bundang-gap Boosts AhnLab, Then Drops Over 8% Due to Foreign Selling

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] AhnLab is showing weakness, falling more than 8% on the 9th afternoon.

As of 2:54 PM on the day, AhnLab is trading at 107,200 KRW, down 8.69% (10,200 KRW) from the previous trading day.

AhnLab had shown strong performance continuously after Ahn Cheol-soo, the largest shareholder and chairman of the Presidential Transition Committee, officially declared his candidacy for the by-election of the Bundang-gap district in Seongnam, Gyeonggi Province. However, it is showing weakness today as foreigners sold 25,049 shares.

Chairman Ahn is the founder of AhnLab and the largest shareholder holding 18.6% of the shares.