[Featured Stock] Youngpoong Paper 6 Consecutive Trading Days Down...Longest Record Broken

Longest Record Since the 2015 Price Limit Expansion

[Image source=Yonhap News]

Yeongpung Paper has recorded the lower limit price for six consecutive trading days. It broke the longest record for the lower limit price in the KOSPI market yesterday and set a new longest record today as well.

At 9:16 a.m. on the 2nd, Yeongpung Paper was trading at 4,010 KRW, down 29.90% from the previous day. Its market capitalization has shrunk to 186.4 billion KRW.

Previously, Yeongpung Paper was involved in stock price manipulation, leading to a suspension of trading from October 19, with trading resuming on October 26.

Since the price limit in the domestic stock market was expanded from ±15% to ±30% in June 2015, Yeongpung Paper is the first stock in the KOSPI market to record the lower limit price for six consecutive trading days. The previous longest record was held by Daesung Holdings and Seoul Gas, which recorded the lower limit price for four consecutive trading days during the CFD (Contract for Difference) incident in April.

Yeongpung Paper set a new longest record by recording the lower limit price for five consecutive trading days yesterday, and today it fell to the lower limit price again, thus earning the stigma of six consecutive trading days at the lower limit price.

All stocks that have set the longest lower limit price records since the expansion of the price limit in the domestic stock market are suspected of stock price manipulation. All of these stocks are subject to a short-selling ban. The financial authorities have completely banned short selling since the outbreak of COVID-19, and from May 2021, short selling has been allowed only for KOSPI 200 and KOSDAQ 150 stocks.