KEX Falls Nearly 7% after the Falling to Record Low Triggers a Selloff
The share price of KEX fell nearly 7% in the morning session after the falling to a record low triggered a selloff from investors.
The share price of KEX fell nearly 7% in the morning session after the falling to a record low triggered a selloff from investors.
2 พ.ย. 2564

The share price of Kerry Express (Thailand) Public Company Limited (KEX) fell nearly 7% in the morning session on November 2, 2021. The price was a new low for KEX since the company first started trading in the Thai stock market.
KEX fell ฿2.50/share or 6.71% to close the morning session at ฿34.75/share with a trading value of 419 million baht. Session highs and lows were ฿37.25 and ฿34.50 per share, respectively.
The closing price was a record low for KEX since it first traded on the Thai stock exchange on December 24, 2020, at an IPO price of ฿28.00/share and closed higher at ฿51.25/share. The share price had been trading above its IPO price since then.
However, the share price showed a sign of slowing down in the third quarter due to the lockdown in Thailand.
 
Tisco Securities stated that the plummet in today’s session was due to a technical factor after hitting a new low, which triggered a selloff to lower the risks. The securities company expected 3Q21 earnings to increase from the first two quarters of 2021 and higher than 3Q20 earnings. Tisco Securities maintained “BUY” recommendation with a target price at ฿45.00/share, seeing the plummet as an entry opportunity to accumulate.
KTBST Securities wrote in its analysis on October 21, 2021, downgrading KEX from BUY to Hold as well as a target price from ฿45.00/share to ฿40.00/share. The securities company expected 3Q21 earnings to decrease 13% YoY and 24% QoQ due to lower revenue per parcel amid higher competition in the market. Meanwhile, GPM would decrease from a capacity increase to support growing eCommerce. SG&amp;A expenses is expected to increase from the capacity increase as well.