LDG Investment Joint Stock Company (stock code: LDG) is facing severe difficulties as its stock plummets by 7% to 6,560 VND/share on July 21, with 24 million shares (9% of outstanding shares) sold without corresponding buy orders. This drop follows an impressive surge of nearly 180% within a month, from around 2.xxx VND to 7,050 VND/share (end of session July 18). LDG reported poor business performance with a cumulative loss of 1.375 trillion VND, equivalent to 53% of its charter capital. The company attributes the price increase to supply-demand dynamics, stating that it is beyond their control; however, it has clarified this issue twice. In the past, LDG also experienced severe declines and a leadership restructuring after its former chairman was arrested due to violations. Recently released, Mr. Nguyen Khanh Hung announced he would work with the board to restructure the company, aiming for revenue of 1.8 trillion VND and profit of 92 billion in 2025.
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