In early trading on the 23rd, ONEUL E&M is trading at the upper limit (daily limit). The lifting of its designation as an investment caution alert issue appears to be boosting investor sentiment.
As of 9:40 a.m. that day on KOSDAQ, ONEUL E&M is trading at 3,925 won, up 905 won (29.97%) from the previous trading day. After closing at the upper limit on the 20th, it is also trading at the upper limit that day.
Earlier, the Korea Exchange (KRX) lifted the designation of ONEUL E&M as an investment caution alert issue on the 19th. The exchange lifted the alert designation after the reasons of a semiannual capital impairment ratio of 50% or more and semiannual equity capital of less than 1 billion won were resolved.
In addition, the resumption of transactions following a reverse stock split seems to have spurred investor sentiment. Due to the reverse stock split, ONEUL E&M's transactions were suspended from the 27th of last month, and coincidentally, transactions resumed on Mar. 20, when the investment caution alert designation was lifted.
However, with the sharp rise in the share price, the exchange issued an investment caution measure. The Korea Exchange (KRX) designated ONEUL E&M as an investment caution issue for one day on the 23rd, then upgraded it to an investment warning issue.
The exchange explained that it designated the stock as an investment caution issue because the closing price that day rose 75% or more from the closing price 15 days earlier and the trading involvement ratio of the top 20 accounts (three accounts) was excessively high at 77.92%. It then upgraded it to an investment warning issue, reflecting that the Mar. 20 closing price rose 60% or more from the closing price five days earlier.