7UP Plunges 63% in 6 Days as Profit Taking Continues from Significant Gains in July
The share price of 7UP continued to drop for six straight days on profit taking from earlier gain in July.
The share price of 7UP continued to drop for six straight days on profit taking from earlier gain in July.
5 ส.ค. 2564

The share price of 7 Utilities and Power Public Company Limited (7UP) fell more than 29% at the open on August 5, 2021. Meanwhile, the plummet in today’s session was 7UP’s 6-day losing streak for as much as 63.8%.
 
The selloff on 7UP came after a series of speculative buy in July from the beginning of the month to July 27, resulting in a gain of share price from ฿1.91/share to ฿3.46/share, representing an increase by 81%.
The speculation in July came after the company moved forward on the investment in purchasing 40% stake of Gold Shores Company Limited (GS) from Bangkok Dec-Con Public Company Limited (BKD), which engages in the development of water supply utilities for raw water management, develop production system, a comprehensive water supply system and produce clean water for industry etc. in which investors were speculating on higher revenue from the opening of Phuket Sandbox.
 
However, 7UP faced a series of selloffs as investors started to take profit on their earlier speculation, causing the share price to decline for 6 consecutive days with a 30% decline in yesterday’s session.
As of 11:05 local time in Thailand, 7UP traded at ฿1.32/share, representing a decrease by ฿0.46/share or 25.84% with a trading value of 1,533 million baht.