[Featured Stocks] Youngpoong Paper & Daeyang Metal Hit Lower Limit on First Day of Trading Resumption
The stock prices of Yeongpung Paper and Daeyang Metal, whose trading suspension measures were lifted, plunged to the lower limit.
As of 9:21 a.m. on the 26th, Yeongpung Paper recorded 23,750 won, down 10,150 won (29.94%) compared to the previous trading day. Daeyang Metal also dropped 675 won (30.00%) to 1,575 won. Both stocks hit the lower limit.
Yeongpung Paper's stock price surged sharply this year, raising suspicions of market manipulation. The Financial Services Commission, during a focused inspection of similar types of unfair trading following the sharp decline in eight stocks related to the La Deok-yeon incident in April, detected allegations of stock price manipulation involving these two stocks and reported them to the Southern District Prosecutors' Office.
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Based on this, on the 18th, after consultations among related agencies during the lower limit incident, market measures such as trading suspension were taken to protect investors.
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