2023-05-23 08:47:50
Toyota Motor stocks plunged at the close of trading in the followingnoon, closing at 1,857 yen, down 4.8% from the previous day, the first drop in regarding a year since May 7, 2022.
Toyota stocks were traded in a narrow range of roughly 1,950-1,970 yen from the beginning of trading to the end of the day.Bloomberg’sAbout 14.5 million shares were sold at 1,857 yen just following regular trading ended at 3 p.m., according to data. The transaction’s share of the daily trading volume reached 36%.
According to Bloomberg’s calculations, the sharp drop at the end of the period affected the company’sThe market capitalization decreased by regarding 1.5 trillion yen from the previous day to 30.2969 trillion yen. The plunge in Toyota’s shares not only blew up the market capitalization, but also pushed down the TOPIX, which has a large influence on the company’s stock, by 3.57 points. However, some private trading system (PTS) markets temporarily rebounded to the 1,900 yen level following the close, according to Bloomberg data on exchange price trends.
Bloomberg Intelligence analyst Tatsuo Yoshida pointed out that the sharp drop in stock prices has never been seen in years of experience. “There is no fundamental reason why we should sell so many Toyota shares,” he said.
We reached out to a Toyota spokesperson for an interview, but did not immediately receive a comment.
(In addition to the stock price recovery movement in the private trading market, we will add and update public relations comments.)
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