Four consecutive trading days of hitting the lower limit. Could this be considered a reasonable time for a rebound?
Bio venture Bridge Biotherapeutics faced a stock plummet after its ambitious candidate for idiopathic pulmonary fibrosis, 'BBT-877,' failed Phase 2 clinical trials. However, even with the return of the Kyobo Securities clicking team, Bridge Biotherapeutics recorded a lower price limit for five consecutive trading days, leaving the team with no choice but to face losses. It is estimated that about half of the purchased amount has been put back into sell orders, resulting in losses amounting to several hundred million won.
Bridge Biotherapeutics recorded a lower price limit after 9:10 a.m. on the 21st. In the early part of the session, the decline was around 25%, leading some to believe it might escape the lower limit for five consecutive trading days, but the decline quickly increased, causing it to settle at the lower price limit.
In the early part of the trading session that day, Kyobo Securities was listed as the second-highest buying broker following Kiwoom Securities. There were analyses indicating that the Kyobo Securities clicking team had been deployed. The early buying quantity exceeded 10 million shares, with the estimated purchase price around 1,600 won. It is estimated that it was anticipated that the stock price, which had fallen to the price limit for four consecutive trading days, would rebound, leading to the purchase of approximately 15 billion won worth of shares. As large buying quantities emerged, the stock price briefly surpassed 1,620 won.
However, the strategy of the clicking team did not work out. The selling quantities from disappointed investors following the clinical failure continued to increase the decline. Subsequently, more than 5 million shares were sold through Kyobo Securities. It is estimated that these shares were traded at the level of 1,515 won, which had fallen to the price limit.
As the stock price could not rebound, the Kyobo Securities clicking team is expected to report losses nearing 500 million won from several minutes of trading after the market opened.
The Kyobo Securities clicking team is already well-known in the domestic stock market. Famous for strategies like catching the lower limit (placing buy orders just before the lower limit is lifted) and catching the upper limit, they aim for potential trading profits as seen in the case of Bridge Biotherapeutics.
Their activities are particularly active on the listing day of public offerings when stock prices fluctuate drastically. Occasionally, they are also observed at brokers where stocks experience significant volatility other than public offerings. Last year, they appeared when HLB hit the lower limit, and previously, they were spotted at Dreambi brokers when it was considered a political theme stock that saw a rapid price surge.