DELTA Drops 11% to Bt498 at the Open as Investors Begin to See Suspicious Activities

DELTA Drops 11% to Bt498 at the Open as Investors Begin to See Suspicious Activities.

The share price of Delta Electronics (Thailand) Public Company Limited (DELTA) dropped ฿62.00/share or 11% at the open on Tuesday to ฿498.00/share after making an all-time high at ฿838.00/share during yesterday’s session, but closed lower at ฿560.00/share.

 

Kaohoon Turakij Newspaper stated that DELTA’s “shareholders” pushed the share price to an all-time high at Bt838 yesterday before hammering the share price down to close at Bt560, but the share price is still higher than other stocks in the market. SET’s President found no irregularities in DELTA, while the analyst stated that the fast-paced movement of DELTA distorted SET’s real movement in yesterday’s trading session, citing that Bloomberg Consensus estimated DELTA’s profit in 2021 to grow only 17% with a target price at Bt191. The company reported better earnings for its 9M20 financial statement, but its cash-on-hand remained at 12.3 billion baht, a slight decrease compared to the same period of last year.

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