Hot Stock: Socionext is back and forth, some say the ‘speculation phase’ is over | Reuters

2023-07-11 23:37:00

[Tokyo 12th Archyde.com]- Socionext is trending in positive territory. After falling three days in a row and approaching the market, it temporarily turned positive and has been fluctuating around the previous day’s closing price. As of 9:30 a.m., the stock was up more than 1% and trading value was the highest in the prime market.

The company announced on the 11th that the selling price of shares to be carried out overseas was set at 14,668 yen per share, and the market said, “The phase of short selling and speculative trading will be over for now. It seems that they are buying dips,” said a domestic securities strategist.

Socionext, which was newly listed on the prime market in October 2010, became popular, hitting a new high of 28,330 yen in June 2011. After announcing that it had decided to sell overseas, the movement of disgust preceded it, and the Tokyo stock market on the 6th was sold to the level of the lowest price. The market also responded that “the overheating has been resolved and the valuation is appropriate” (same as above).

As of the end of March 2011, Development Bank and Fujitsu hold 14.99% each, and Pana Holdings holds 7.50%. Fujitsu announced on the 11th that due to the sale of Socionext shares, it expects to record 63.6 billion yen in extraordinary gains on the sale of securities in the non-consolidated financial results for the fiscal year ending March 2024.

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