Chelsea price falls 7% at noonbreak

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SHARE price of newly-listed Chelsea Logistics Holdings Corp. fell by 7.9 percent during the early trading as stocks were oversold.

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Chelsea closed the morning session at P9.72 apiece, 7.9 percent lower than the P10.56 opening price.

“It’s just being technically oversold … it dropped this morning … and it should do a technical rally,” Summit Securities Inc. President Harry Liu said.

“We can not predict a public company because it’s just two days,” he added.

Chelsea fell as low as P9.54 apiece or 9.6 percent during the intra-day trading. ANGELICA BALLESTEROS

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