Hong Kong Stock Market | Henderson Holdings Plunges 80%, Giving Back All Last Month's Gains, Annual Losses Expand 2.7 Times
Acer Group Holdings' stock price has continued to rise in August, with a cumulative increase of over 360%. However, it experienced a sharp drop of 80% in early trading today, erasing all the gains from last month. As of the time of writing, it has fallen by 73.24% to HKD 0.19, with a trading volume of HKD 33.0855 million.
According to Dolphin Research, the stock price of Acer Group Holdings (01718) has been continuously rising in August, with a cumulative increase of over 360%. However, it experienced a sharp drop of 80% in early trading today, erasing all the gains from last month. As of the time of writing, it has fallen by 73.24% to HKD 0.19, with a turnover of HKD 33.0855 million.
In terms of news, Acer Group Holdings recently released its annual performance report, revealing a revenue of HKD 315 million for the period, representing a YoY increase of 19.84%. However, the attributable loss to shareholders expanded by 268.4% to HKD 46.9956 million. Additionally, the company recently reached an agreement on the acquisition of a 35% equity stake in Songshen IP, which comes with a profit guarantee.
