While the global economy is slowing down, particularly affected by the Thai Baht currency appreciation, Sino-US trade war and a newly emerging infectious disease outbreak, COVIT-19 or known as coronavirus, but the share price of KCE Electronics Public Company Limited (KCE) keeps moving upward amid the wonder of the investors and questioning why the share price tends to rise against negative factors.
The phenomenon caused many investors gathering to buy KCE’s stock, however, there was a rumor that one high net worth group or called as “the host” had tried to manipulate the stocks until its value reaches to ฿30 per share, but has yet to succeed as the price climbed to hit only ฿26 per share from ฿13 per share without positive factor to support its worth.
An unusual situation continues to be questioned because in regard to the report of KCE’s 2019 consolidated financial statement, showed that KCE has loss its net profit approx. ฿1,000 million, decreased 53.6% YoY to ฿934 million. The Thai Baht revenue dropped 13.5%, while the earnings in US Dollar plunged 9.8%.
The decrease mainly driven by the export that declined in the first half-year after the WLTP regulation has been introduced. Doubled impact by Thai Baht appreciation, provoking KCE’s revenue to lost ฿534 million.
KCE’s share price on Friday closed at ฿23.80 per share fell ฿0.90 per share or 3.64%, jumped to the highest price at ฿25.25 per share with the total trading value of ฿1.8 billion.
To explain (with an optimistic view) this phenomenon, it might occur because KCE’s outcome was beyond the expectation of the market, but could not reject the fact that “the host” might still continue to manipulate the stock till it achieves the target price.
Should bear in mind to think twice before invest in KCE’s stock as now everything could happen in the midst of an extraordinary circumstance.