Shares of Kosy JSC (KOS) have hit the floor price for 29 consecutive sessions, falling nearly 90% in about six weeks and wiping out thousands of billions of VND in market capitalization. The slide came as securities firms repeatedly force-sold shares held by several executives and organizations linked to Kosy. KOS has not broken the record of 34 consecutive floor-price sessions set by CDO in 2016–2017, though FTM (30 sessions, 2019) and ATG (29 sessions, 2016–2017) also had long streaks. The article notes that when margin-selling pressure hits thinly traded stocks, investors may find it very hard to exit their positions, even after steep price declines.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: KOS nằm sàn 29 phiên, nhưng không phải kỷ lục, đây mới là cái tên nắm chuỗi giảm sàn kinh hoàng nhất lịch sử chứng khoán Việt Nam
Keywords
KOSbrokeragesmargin lendingVietnam
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Related tickers and likely impact
KOS
▼ Likely negativeKOSY Company
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Real Estate |
| Industry | Real Estate Holding & Development |
| Market cap | 823 bn VND |
| P/E | 30.0 |
| P/B | 0.35 |
| Close on 10/30/2026 | 4.06 |
| Change that session | +6.84% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Investors bottom-fishing after stock hits floor price for 30 consecutive sessions
KOS opened the 30/10 session at the floor price of 3,540 VND, its 30th consecutive session at the floor, with the stock down about 90%. Within 15 minutes, large buy orders absorbed all floor-price sell orders, lifting the price back to the ceiling of 4,060 VND, with buy orders of about 10 million shares left unfilled. Morning volume exceeded 74 million shares, equal to 34% of the company's capital, while market capitalization shrank by over 6,000 billion VND to under 900 billion VND. Management said selling pressure came from the forced disposal of collateral at several securities firms and from market-wide momentum selling, and that core real estate and renewable energy operations remain normal. As of 13/10, Chairman Nguyễn Việt Cường held over 71.8 million shares, or 33.17% of capital, and faces heavy margin-call pressure from several securities firms.
- KOS unexpectedly hits ceiling price after 29 consecutive floor-price sessions, record liquidity of over 74 million units
KOS (HOSE) rose to the daily ceiling price of VND 4,060 per share in the morning session on 30/10, ending a streak of 29 consecutive sessions at the floor price since 21/09, with more than 74.1 million shares matched, the highest volume in the company's history. Before that, the stock had lost more than 87% of its value, falling from VND 30,050 per share on 21/09 to VND 3,800 at the close on 29/10, which shrank market capitalisation from over VND 6,000 billion to nearly VND 880 billion. Several executives and related entities, including Chairman Nguyễn Việt Cường, were repeatedly subject to forced margin sales by securities firms, cutting his stake to 33.09% of charter capital. In its explanations, KOS said some securities firms had cut prices and demanded collateral disposal within a short period, leaving the company without time to arrange funds, and maintained that its core operations showed no unusual changes. For the first half of 2026, the company reported net revenue of VND 722 billion and profit after tax of nearly VND 15.4 billion, but has not yet published its Q3 financial statements.
- Chairman of Kosy Group and related companies have KOS shares forcibly sold
Kosy Group chairman Nguyễn Việt Cường and two related companies, Kosy Real Estate Investment and Leo Regulus Investment, had KOS shares forcibly sold by securities firms through margin liquidation. Cường's holding fell by 175,287 shares between 19 and 23 October 2026, lowering his stake from 33.17% to 33.09%. Kosy Real Estate Investment sold 445,500 shares, cutting its stake from 4.26% to 4.05%, while Leo Regulus sold 175,870 shares, reducing its stake from 10.251% to 10.17%. Kosy Group attributed KOS's five consecutive limit-down sessions to a market downturn, brokerages reducing margin lending and forced selling, and said its core business operations remain on schedule.
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Kosy (HOSE: KOS) closed at 5,050 dong on 23 October, its 25th consecutive limit-down session, down more than 82% from 32,950 dong on 16 September, and its market capitalisation fell from about 7,133 billion dong to 1,257 billion dong. The family group of Chairman Nguyễn Việt Cường holds over 134 million shares, or more than 62% of the company, and some of these shares are pledged as collateral for bank loans. From late September to mid-October 2026, securities firms carried out forced sales of over 561,000 of Cường's shares, nearly 763,000 shares linked to Kosy Real Estate and about 4,700 shares linked to Leo Regulus. Forced-sale attempts for over 8.6 million shares held by Vice Chair Nguyễn Thị Hằng and 9 million shares held by Deputy General Director Nguyễn Thị Phương Thảo failed due to weak demand. Kosy attributes the decline to weak market conditions, lower liquidity, investor sentiment and securities firms cutting margin lending, and says its core real estate, renewable energy and project operations are proceeding as planned.
- Doctorate-Holding Chairman Repeatedly Hit by Forced Margin Share Sales
Kosy Chairman Nguyễn Việt Cường has had shares sold under margin forced liquidation again, the second time in under a month, as KOS extends a run of limit-down sessions. From 19 to 23 October 2026 he lost 175,287 shares, cutting his stake from 33.17% to 33.09% of charter capital, bringing his total sold across recent periods to 736,951 shares. Two related entities, Kosy Real Estate Investment Co., Ltd. and Leo Regulus Investment JSC, were also sold 445,500 and 175,870 shares. KOS closed at 5,050 VND on 23 October, its 25th consecutive limit-down session and more than 82% below 32,950 VND on 16 September. Kosy attributed the pressure to weak liquidity, selling sentiment and some brokers cutting margin lending ratios and liquidating positions, while its reviewed H1 2026 net profit of over 15 billion VND, up about 121%, was only near 13% of its full-year plan.
- Chairman With a PhD Sees Shares Force-Sold by Securities Firm
Kosy Chairman Nguyen Viet Cuong (PhD) had 560,854 KOS shares force-sold by a securities firm between October 7 and 13, 2026, reducing his stake to about 33.17% of outstanding shares. A related entity, Kosy Real Estate Investment Co., Ltd., also had 8,000 shares force-sold on September 29 and from October 1 to 5. KOS has hit the floor price for 17 consecutive sessions, closing at 8,960 dong, with 75.6 million shares (about 35% of the company's total) offered at the floor and almost no buying demand. Kosy attributes the slide to momentum selling and to some brokers cutting margin lending ratios and forcing sales, while stating that its core real estate, renewable energy and project operations remain on plan. Its reviewed mid-year 2026 consolidated financial statements show revenue of nearly 723 billion dong (up 9%) and after-tax profit of over 15 billion dong (up about 121%), only about 13% of the 120 billion dong full-year target. Hoang Thi Yen, sister-in-law of Chairman Cuong, has registered to buy 8 million KOS shares from October 15 to November 13, which would raise her stake to about 3.71%.
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