Portfolio Pain! 9 penny stocks crash up to 57% in two months. Do you own any?
In recent months, the penny stock sector faced a downturn as several stocks plummeted in value. A total of 14 stocks witnessed price drops between 20% and 57%. Notably, Kalind experienced the steepest decline at 57%. Additionally, Cropster Agro and PVV Infra reported decreases of 52% and 41%, respectively, signaling a tough market for lower-value stocks.
In a recent two-month period, 14 penny stocks experienced significant declines, with losses ranging from 20% to an alarming 57%. These stocks, identified by a screen that targeted companies with a market capitalization under Rs 1,000 crore, a share price under Rs 20, and a minimum recent trading volume of 5 lakh shares, demonstrated notable downturns.
The data, sourced from ACE Equity, highlights the precarious nature of these low-priced, relatively liquid penny stocks. Among the affected stocks, one had a 2-month performance of -57%, falling from a previous close of Rs 4.24 to a current value of Rs 1.73. Another stock saw a 52% drop, moving from Rs 2.55 to Rs 1.23. The performance of these penny stocks serves as a cautionary tale for investors who may have inadvertently acquired them.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
