NCB Financial Group stock traded at a 52 week low of $32 in the morning session of the Jamaica Stock Exchange after 505,889 shares with a value of $18.12 million were exchanged. The stock opened at $40.95 and gradually traded down to $32, with an exchange of just two shares, at levels not seen since late 2015.
NCB traded 22768 units trading down to $40 at 9.25 am, it then dropped to $38.03 also at 9.25 and bounced back to $40.95 with an exchange of 10,000 at 9.36 AM and went downhill from there with 106,000 units traded a few cents above $36 and 330,909 shares between $35.01 to $35.10.
The group sold shares to the public in May last year, at $65 each. The fall in price represents a drop of 53 percent at $35 per share, but that is relatively mild compared with a fall of 86 percent from the 2019 high of $249.
In 2024, ICInsider.com commented on the public issue as follows” An APO brings an additional supply of shares to the market and will satisfy the demand for a large pool of investors for several months if not years, as such the issue is likely to keep the price of the stock subdued for some time unless there is a big jump in profitability to make them more attractive as an investment and thus encourage increased buying to move the stock price up appreciably.”
Trading in the stock was halted to resume trading at 11.46 AM, in the morning session.
After trading resumed, the stock traded at $39.94. Orders for the stock are shown in the table below.
