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