Meyer Plunges by 19% as Investors Sentiment Weakens
Industrial players Meyer Plc lost 19% of its market value in the equities market week-on-week due to weak investors’ sentiment, reflecting broader sell pressures on the Nigerian Exchange
The industrial goods stock fell to N13.1 on Friday when 680925 units valued at about N9.25 million were traded in the local bourse.
Data from the Nigerian Exchange showed that the two-times negative price swing last week cost Meyer Plc 18.88% of its market, widening the going rate from its highest value in 52-week.
With 531.237 million outstanding shares, Meyer’s market value inched lower to N6.959 billion, more than 48% below its highest valuation reached in the last 12 months.
The sharp price depreciation has officially created an entry point for investors to take position ahead of 2025 earnings period.
The company grew net income to N363.149 million at the end of Sept. 2025, a significant year-on-year increase of 53% from N236.97 million in the equivalent period in 2024. Naira Rises on External Reserves, FX Intervention Confidence
