VPG shares continued to hit the floor during the trading session on June 9, dropping to 8,380 VND per share, down 6.99% from the previous session, marking the fifth consecutive decline. After this series of declines, the stock has lost 26.11%, equivalent to 3,120 VND. The main reason for this drop is the arrest of senior executives, including Chairman Nguyen Van Binh and CEO Nguyen Van Duc, on corruption charges. The company subsequently altered its leadership, appointing Le Thi Thanh Le as the new chairman. Although Viet Phat’s Q1 2025 revenue surged, the legal upheaval has caused investor panic, leading to a sharp decline in VPG shares.
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