The share price of Thai Airways International Public Company Limited (THAI) has hit the ceiling for the fifth day in a row in anticipation of the rumors over allowing private companies to take part in business operations of the airline.
THAI rose ฿0.80/share or 14.41% to trade at ฿6.35/share on Friday with a trading value of 10 billion baht as of 10:17 local time in Thailand on April 10, 2020.
The share price of THAI has hit the ceiling for the fifth day in a row with a total gain of ฿3.15/share or 98.4% within five days.
The rise in share price could be due to the rumor that the company will allow private companies into its management operations which could be a positive sentiment to a state-enterprise company like THAI who has to compete with other private companies in the markets. It has been highly anticipated that THAI could turn around if the company has the right management team and adjust to be more of a “private company”.
Moreover, the rising of THAI’s share price was viewed by analysts which expected that the stimulus plan, approved by the Thai Cabinet, to remedy those affected by the outbreak of coronavirus, would include airline business, especially Thai Airways, the stated-airline.