Transcorp Hotels Lost 10% over Twisted Investors Sentiment
Transcorp Hotels Plc. plunged by about 10% in the equities market as investors offloaded the hospitality company shares amidst earnings expectation. The company stock saw huge gain that lifted its market value to N1 trillion category in the local bourse last year.
The rally lasted long, and Transcorp Hotels fell below N1 trillion before it recovered from sell side actors onslaught in the latter part of 2024. According to trading record obtained from the Nigerian Exchange, Transcorp share price declined to N114.65 on Monday, lost 9.97% on the day from N127.35 …its 52-week high.
Consequently, Transcorp Hotels market value declined to N1.174 trillion on the back of more than 358,049 shares that exchange hands in the market on Monday. Stockbrokers attribute the huge daily price decline to weak investors’ sentiment ahead of the company’s earnings release.
Reflecting in the huge sell offs, stock market analysts said the prevailing mood or attitude of investors towards Transcorp Hotels Plc. is significantly distorted. Transcorp Hotels recorded strong market re-rating last year as hospitality stock became investors toast in the local bourse.
