Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Next Digital Limited    282   HK0000271764

NEXT DIGITAL LIMITED

(282)
  Report
SummaryChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Next Digital : Regulator warning ends Hong Kong's Next Digital share rally

share with twitter share with LinkedIn share with facebook
08/12/2020 | 05:28am EDT

HONG KONG, Aug 12 (Reuters) - Shares of Next Digital Ltd tumbled over 40% on Wednesday after soaring more than 1,000% in the last two sessions, as the securities watchdog said it was monitoring trading activity in the Hong Kong media group.

This week's staggering rally was spurred by an online campaign by pro-democracy protesters to drum up support for owner Jimmy Lai, who became the highest-profile arrest under a new national security law imposed by Beijing.

Hong Kongers have also bought hundreds of thousands of copies of the anti-government Apple Daily tabloid to protest the arrest of the media tycoon, who has since been released on bail.

Brokers said the surge in Next Digital shares was also driven by speculation Lai may sell the business.

The stock rose as much as 59.1% on Wednesday morning before reversing gains. Shares ended down 40.9% at HK$0.65, leading losses on the Hong Kong bourse.

Brokers said concerns that the Securities and Futures Commission might halt trading prompted the sell-off.

"SFC's reminder alerted day traders of the underlying risks given high volatility in such a short time," said a strategist from a local brokerage, who declined to be named.

On Wednesday, around 30% of Next Digital's trading came from investors transacting only one or two lots of 10,000 shares -- suggesting the rally has mostly been driven by retail investors.

One such investor, who only gave his last name Choi, bought one lot on Monday at HK$0.28 and said he had no plans to sell.

"I own a bit of a media company that, while I don't necessarily agree with all its reporting, at least provides another voice," he said.

The SFC late on Tuesday urged investors to exercise "extreme caution" when dealing in the stock, adding it would continue to monitor the shares.

Next Digital said on Tuesday it did not know what moved the price so much.

Wednesday's drop prompted more calls of support.

"Emergency call for yellow stock circle, 282 needs people," one post on a local pro-democracy forum said, referring to Next Digital's stock identification. Yellow is associated with the opposition in Chinese-ruled Hong Kong. (Reporting by Donny Kwok, Clare Jim and Alun John; Editing by Emelia Sithole-Matarise)


Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. 1.32% 117.51 Delayed Quote.60.07%
NEXT DIGITAL LIMITED -3.85% 0.25 End-of-day quote.-3.85%
share with twitter share with LinkedIn share with facebook
All news about NEXT DIGITAL LIMITED
09/14NEXT DIGITAL : Appointment of executive director
PU
09/14NEXT DIGITAL : List of directors and their roles and functions
PU
09/10NEXT DIGITAL : Hong Kong's Next Digital shares dive, then surge as police arrest..
RE
08/26U.S. slams HSBC over treatment of Hong Kong customers, says China 'bullying' ..
RE
08/26U.S. slams HSBC over treatment of Hong Kong customers, says China 'bullying' ..
RE
08/14NEXT DIGITAL : Poll results of the annual general meeting held on 14 august 2020
PU
08/12NEXT DIGITAL : Regulator warning ends Hong Kong's Next Digital share rally
RE
08/12NEXT DIGITAL : Regulator warning ends Hong Kong's Next Digital share rally
RE
08/11Next digital shares open up 27%
RE
08/11Support for arrested owner drives Next Digital shares, watchdog urges caution
RE
More news
Financials
Sales 2020 1 158 M 149 M 149 M
Net income 2020 -415 M -53,6 M -53,6 M
Net Debt 2020 537 M 69,2 M 69,2 M
P/E ratio 2020 -1,02x
Yield 2020 -
Capitalization 659 M 85,0 M 85,0 M
EV / Sales 2019 0,51x
EV / Sales 2020 0,83x
Nbr of Employees 2 369
Free-Float 28,1%
Chart NEXT DIGITAL LIMITED
Duration : Period :
Next Digital Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NEXT DIGITAL LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Managers
NameTitle
Kim Hung Cheung Group Chief Executive Officer & Executive Director
Chee Ying Lai Executive Chairman
Chi Keung Hung Chief Financial Officer
Yut Kin Ip Non-Executive Director
Tat Kuen Chow Secretary & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NEXT DIGITAL LIMITED-3.85%88
NEWS CORPORATION-2.62%8 117
THE NEW YORK TIMES COMPANY36.18%7 306
REACH PLC-41.20%309
D. B. CORP LIMITED-43.54%179
REWORLD MEDIA2.91%175