Ikeja Hotel Falls by 21% over Sell Pressures
One of the major hospitality players, Ikeja Hotel Plc, market value fell by more than 21% on the Nigerian Exchange due to investors’ negative sentiment post fourth quarter of 2024 earnings release.
Its share price fell to N11 in the equities market from N14 at the beginning of the sessions following huge volume traded on the Nigerian Exchange trading platform.
Investors’ weak sentiment in the hospitality stock dragged its market value downward by 21.4% to N23.786 billion. Stockbrokers said the new price has created entry points for investors seeking strong upside potential.
“It is not necessary a bad thing for stocks to dive; there is always an entry and exit point’, stockbrokers told MarketForces Africa. #Ikeja Hotel Falls by 21% over Sell Pressures FG Partners WIPO to Boost SMEs’ Global Competitiveness
