Since early July 2018, Layhong's share price has fallen from RM0.95 ish to RM0.63, OVER 33% ISH.
Many have been trapped by the share price fall, so have me, as I bought the share between RM0.80, but did not expect it to fall so much without any news from the Company.
I have did more research and have contacted various sources for further information that may have led to the share price fall.
1. Poor Quarter 1 results.
The seasonal effect of Quarter 1 may have hit Layhong's results hard, due to Hari Raya. I have been told that the word from the investment community have been informed of this as early as July. Apparently, the results will be in the range of RM2mil to RM3mil profit only. The impact is due to lower selling price of eggs, higher cost price of corn and soys and one off start up costs for the new plant scheduled for launch in Sept 18.
2. Many insitutional investors started to sell their shares upon obtaining the above info (Based on what I gather but not verified or be certain)
News have spread that many early sellers obtained pre hand info on the results. The bird flu outbreak in Sabah have accelerated the selling.
I can not guarantee the information above to be 100% true, it is based on what I have been told. If you have any more news, please share and help each other.
http://klse.i3investor.com/blogs/sadsadsad/170809.jsp
