TMT closed Friday’s trading at VND5,800 (US$0.25) per share, down 37 per cent from the beginning of the year. Automobile stocks are expected to lure more investment thanks to the growth in consumption. — Photo cafef.vn Automobile stocks are expected to lure more investment thanks to the growth of market consumption, forecast to reach over 500,000 vehicles per year from 2021. On the stock market, shares of TMT Motors Corporation (TMT), a prominent importer and assembler in the capital city, closed Friday’s trading at VND5,800 (US$0.25) per share, down 37 per cent from the beginning of the year. TMT has experienced a significant decline over the past four years. TMT recorded an all-time peak of over VND59,300 per share in October 2015, then plunged to its current value. The stock liquidity was also low, with only a few thousand units matched each session. The slump of the TMT stock price is attributed to negative business results. In the first six months of 2019, TMT recorded revenue of VND734 billion ($31.4 million), up 6.8 per cent. However, the company suffered a loss of VND5.9 billion due to higher costs of goods sold, up by VND192 billion, equivalent to an increase of… Read full this story
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