Cheonil Express, which showed a continuous surge due to the favorable redevelopment of the Seoul Express Bus Terminal, has continued to rise for 9 consecutive trading days.
According to the Korea Exchange on the 3rd, as of 1:45 p.m., Cheonil Express is trading at 399,000 won, up to the price limit (29.97%). Even though it was designated as an investment risk item due to a short-term surge in stock prices, it has an upper limit of 9 consecutive trading days. Compared to the middle of last month, the stock price has now risen more than 10 times.
There are voices in the market that investment should be careful because of the structure with few liquid stocks. The shares issued by Cheonil Express are about 1.42 million shares, but the largest shareholder holds about 86%, so the actual share of liquid shares circulating in the market is only 14%. It is a structure where price volatility increases greatly when short-term supply and demand are high for stocks with a smaller distribution volume. On the 28th of last month, stocks changed hands several times in a short period of time, and the daily trading volume (about 290,000 shares) surpassed the current stock volume (about 200,000 shares).
Earlier, on the 26th of last month, Seoul announced that it will begin full-scale pre-negotiations with Shinsegae Central and Seoul Express Bus Terminal regarding the complex development of the Seoul Express Bus Terminal site in Seocho-gu. Following Shinsegae Central City (70.49%), Cheonil Express is the second largest shareholder holding a 16.67% stake in Seoul Express Terminal.
