Secure Electronic Technology Falls by 8.5% over Selloff
Lottery and gaming company, Secure Electronics Technology (ticker: NSLTECH) Plc. plunged sharply during early trading session in the equities market as about 16.5 million volume valued at N8.962 million exchanged hands.
Investors exited positions in the company stocks after the company released 2024 earnings scorecard. The lottery, gaming stock has seen strong volatility lately amidst strong market activities. Its share price dropped by 8.47% on Thursday in a pre-planned investors sell down that left its market price at 54 kobo.
Market value of Secure Electronic Tech plc has reduced by about 8.5% during early trading hours on the Nigerian Exchange after at N3.322 billion on Wednesday after the company reported huge loss.
The company’s board of directors be held a meeting on Thursday, 20 March 2025 to consider and approve the Audited Financial Statements for the Year ended 31 December 2024, among other matters for deliberation.
Secure Electronic Technology Plc reported N121 million as net loss in 2024, according to detail from its audited financial submitted on the Nigerian Exchange. Analysts noted that the company’s loss moderated when compared with N187.52 million loss after tax it posted in 2023.
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