WELLCELL HOLD Shares Plunge Over 65% Following Recent Four-for-One Stock Split
Stock News
Apr 24
WELLCELL HOLD (02940) experienced a sharp decline of more than 65%. At the time of writing, the stock was down 65.06%, trading at HK$1.89, with a turnover of HK$1.153 billion. The significant drop follows the company's previously announced schedule for a stock subdivision, which was detailed in late March. The company implemented a four-for-one share split, meaning each existing share was subdivided into four new shares, an action intended to adjust the share price and improve liquidity. On April 21st, the first day of trading after the split, WELLCELL HOLD's share price showed extreme volatility, surging as much as 90% during the session before rapidly retreating and closing the day down 27.25%.
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