Reported 8 months ago
Innolux (3481) stocks surged with a record-breaking 580,000 orders hitting the limit today due to the recent news of Innolux closing their 5.5-generation factory in Nankang at the end of last year and reportedly finalizing the sale of the plant to Micron for about 18 billion NTD. Following the plan to clear out equipment by the end of July and transfer it to three other plants while handing over the factory to Micron, Innolux emphasized focusing on core business transformation and development, optimizing production configurations, and enhancing overall operational efficiency. The surge in panel stocks also saw AUO (2409) with 330,000 orders hitting the highest record, up over 7%, ending with a 3.86% increase, securing the top 2 spots for trading volume in the Taiwan stock market today. KGI Securities Senior Analyst Cai Minghan revealed reasons for the surge but also warned short-term investors to pay attention to two major structural issues.
Source: YAHOO