2023-09-09 00:10:19
[비즈니스포스트] EcoPro’s position as the ’emperor stock’ is in jeopardy due to the recent stock price decline.
Ecopro’s stock price fell below 1 million won during the trading day for two consecutive trading days. The short selling balance exceeds 1 trillion won, putting a burden on stock prices.
▲ On the 8th, EcoPro’s stock price fell below 1 million won during the day, but turned upward in the latter part of the day as a counter-buying trend came in and ended trading.
According to the Korea Exchange on the 8th, Ecopro’s stock price closed at 1,021,000 won, 1.49% (15,000 won) higher than the previous day.
Ecopro’s stock price fell below 1 million won during the day, falling to 975,000 won as of the previous day, but turned upward in the second half of the market and closed higher after 6 trading days. After falling 20.0% (251,000 won) over the previous 5 trading days, the decline was slightly reversed.
Recently, due to the supply and demand battle, the stock price of secondary battery-related stocks is showing an overall weakness, and EcoPro stock price is showing signs of weakness.
Secondary battery stocks are an industry that dominated supply and demand in the first half of this year, to the extent that concerns about a concentration of supply and demand continued to be raised. However, recently, supply and demand have been draining due to the burden of higher stock prices and favorable news in other industries.
The total average daily trading volume of the six major secondary battery stocks in the KOSPI and KOSDAQ markets, LG Energy Solutions, Samsung SDI, POSCO Holdings, EcoPro, EcoPro BM, and L&F, in September (1st to 8th) was KRW 1 trillion. It was calculated to be 924.5 billion won. Compared to the average daily trading volume of 2.8585 trillion won in August, it decreased by about 32.7%.
Kiwoom Securities Research Center said in a report titled ‘The phase of supply and demand between semiconductors and secondary batteries’, “Expectations of strengthening stock price momentum in semiconductor stocks may cause a phenomenon of supply and demand being concentrated in these industries,” and added, “In the short term, focusing on stocks related to the domestic secondary battery value chain. “Supply and demand instability may arise,” he predicted.
Meanwhile, the stock price of EcoPro, the only ‘emperor stock’ in the domestic stock market, continues to weaken. Although it rose slightly on this day, EcoPro’s stock price fell by about 18.8% from September to this day.
EcoPro is one of the stocks that received the most attention when the secondary battery investment craze broke out in the domestic market this year. In particular, as the net buying trend of individual investors continued, the price rose sharply from 110,000 won at the beginning of the year to around 1.2 million won.
As the stock price soared due to supply and demand, as supply and demand showed signs of shaking, the size of short selling increased significantly again, putting a burden on Ecopro’s stock price.
According to the Korea Exchange, as of the 5th, the short selling balance of EcoPro was 1.6 trillion won, equivalent to 5.57% of the market capitalization. The short sale balance is 1.48 million shares and has been steadily rising since September.
The EcoPro short selling balance exceeded 1 trillion won on August 31 and has remained higher than 1 trillion won. This is the first time in about a month and a half since July 24 that EcoPro’s short selling balance exceeded 1 trillion won.
▲ Short selling balance trend for the past 6 months for individual EcoPro stocks.
Ecopro has been waging a steady war against short selling since its stock price soared this year.
Previously, in July, when EcoPro rose to the position of emperor as its stock price exceeded 1 million won, the short selling balance exceeded 1 trillion won. At that time, individual investors gathered together and declared a ‘war on short selling’, supporting EcoPro’s stock price. Later, as individual investors gained the upper hand, EcoPro’s stock price soared beyond 1 million won to 1.2 million won.
At the time, there was an analysis that short covering for short selling (forcing repayment by buying stocks when the stock price rose contrary to expectations) actually had an effect on EcoPro’s stock price surge.
Since then, it has decreased to a maximum of 600 billion won, and the short selling balance, which was below 1 trillion won as of August 30 (830.8 billion won), has doubled in September and is once again acting as a burden on stock prices.
Meanwhile, as Ecopro’s stock price approaches the psychological resistance line of 1 million won, attention is paid to future stock price trends.
Individual investors’ net buying of EcoPro remains strong this time. From September to this day, individual investors alone made a net purchase of 118.7 billion won worth of EcoPro stocks. This is in contrast to the net selling by foreign investors worth 121.1 billion won during the same period.
Even on the day when Ecopro’s stock price turned upward, individual investors made net purchases worth 26.8 billion won, leading to a strong stock price.
SK Securities Research Center said, “Ecopro, a leading secondary battery stockholder, collapsed the 1 million won level, which is the psychological resistance level, during the day, but recovered to the 1 million won level again as buying momentum came in in the latter half of the day.” He added, “The semiconductor and secondary battery industries are together. “Due to the sluggish performance, a situation is developing where the domestic stock market cannot move upward,” he analyzed. Reporter Jeong Hee-kyung
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