Petro Times' PPT shares hit the daily floor price for an eighth straight session on Oct 29, falling to 6,600 dong, down about 56% since Oct 20 from 15,000 dong, as trading volume jumped to over 496,000 shares. The company attributed the drop mainly to supply and demand and acknowledged that business difficulties caused a sharp fall in after-tax profit. The sell-off followed a third-quarter report showing net revenue of 1,066 billion dong, down 9.4%, and an after-tax loss of over 22.1 billion dong versus a profit of nearly 2.4 billion dong a year earlier. The quarter included a loss of about 19.7 billion dong from transferring nine plots of land in Tràng Duệ, though nine-month after-tax profit still reached nearly 33.7 billion dong, about 4.4 times the year-earlier level. Market capitalization shrank from about 265 billion dong to nearly 130 billion dong.
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Original headline: Một cổ phiếu bất ngờ "nằm sàn" 8 phiên liên tiếp, chuyện gì đang xảy ra?
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Petro Times (HNX: PPT) shares hit the floor price for five consecutive sessions from 20 to 26 October, and kept falling on 27 October and the morning of 28 October. The company attributed the decline to supply-demand factors that affected shareholder sentiment and to difficulties from the wider economy, while average daily trading volume was only 24,540 shares and the stock was down 52% from the start of the year. PPT was previously involved in a manipulation case: on 12 November 2025, the State Securities Commission fined two individuals 1.5 billion VND each for using 19 accounts to trade the stock over more than two years. According to its Q3 2026 financial statements, revenue fell 9% and the company posted an after-tax loss of over 22 billion VND, versus a 2.4 billion VND profit a year earlier, with a loss of nearly 20 billion VND from selling investment property and financial expenses up 2.48 times.
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