No respite for Tanco as shares plunge another 37%
Tanco Holdings Bhd shares have plummeted nearly 72% over five trading sessions, triggering multiple unusual market activity queries from Bursa Malaysia. Despite announcing a memorandum of understanding for a new data center project, the company continues to face intense selling pressure and intraday short selling suspensions.
Why it matters
The rapid loss of RM7.7 billion in market capitalization highlights significant investor volatility and potential instability within the Malaysian property and development sector.
Share Investors continue dumping the shares as intraday short selling of the stock is suspended for the third day in a row. Tanco has crashed nearly 72% over the past five trading sessions, slashing RM7.7 billion off its market capitalisation. PETALING JAYA : The panic selling of Tanco Holdings Bhd shares continued unabated today as the stock plunged 37.5%, or 30 sen, to 50 sen. The beleaguered property developer came under heavy selling pressure in early trade, hitting the limit down shortly after the opening bell. This triggered the suspension of intraday short selling of the shares, for the third day in a row.
The article reports on market data and corporate filings without injecting editorial opinion or loaded language.
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