The junior market closed trading sharply down on Thursday, with the market index diving 100.65 points, to close at 2,032.92. A $1.57 fall in the price of the Lasco Distributors inflicted most of damage to the junior market index on Thursday, with a fall by 4.7 percent, the stock fell from $7.40 at the start of trading on Wednesday, down to $5.30 in the morning session, for a 28 percent decline.
Caribbean Producers that sunk sharply on Wednesday as investors reacted negatively to the news that profit in the final quarter of the fiscal year to June will be hit by added cost. The stock did not trade but closed with the bid at $3.20 compared to the last sale price of $3, Lasco Distributors was one of the stocks that closed with the bid being higher than the last traded price, but with a small volume.
A total of only 6 active securities with only 472,148 shares valued at $2,592,609 changed hands on Thursday. At the close, 2 stocks advanced and 3 declined
At the end of trading 8 stocks closed with bids higher than their last selling prices and 1 ended with a lower offer.
At the end of trading, Consolidated Bakeries gained 15 cents in trading 16,389 shares to close at $2.15, the stock was offered at $2.10 at the close, Key Insurance traded 1,837 shares and rose 10 cents to close at $2.60. Lasco Distributors traded 412,422 units to end at $5.33, as investors continued to respond negatively to news that Pfizer is countering Lasco huge claim of more than US$300 million with their estimate of less than US$1 million. Pfizer had previously challenged Lasco over their right to sell tablets for hypertension and lost, resulting in the need to quantify damages by the courts. Lasco Financial ended with 5,200 shares changing hands at $3.35, after falling 7 cents, Lasco Manufacturing gained 3 cents to close at $5.03 with 8,300 shares trading and Medical Disposables added 28,000 units and remained unchanged at $3.45.
LascoD shot juniors – Thursday
July 7, 2016 by IC Insider.com
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