The stock of Yeah1 Group Corporation (YEG) touched its ceiling price just after the opening of today's trading session and maintained a purple hue throughout the day. The share price reached VND 14,350, the highest level since June 2022, over two and a half years ago. Around 5.7 million YEG shares changed hands today, 3.8 times the average volume over the past year.
The ticker of the Yeah1 Group has seen a strong accumulation in the past two weeks, including four sessions where it hit the daily ceiling. Trading volume has also surged from just a few hundred thousand shares to over 1 million shares per session, indicating strong buying pressure. On December 5th, the trading volume reached over 10.9 million shares, a record high since the company's listing.
The YEG stock price has been buoyant since the company organized a large-scale concert for its "Brother Overcoming Obstacles" program, which attracted around 20,000 people in Ho Chi Minh City in mid-October. Since then, the market price has increased by nearly 41%. Stock monitoring tools all indicate that YEG is in a strong buying state, suggesting it is likely to outperform the overall market or its peers.
However, nearly three-quarters of the trading volume today was from active selling. In recent sessions, the large inflow of funds has been more pronounced. The Relative Strength Index (RSI) is also entering the overbought territory, suggesting the stock is nearing a strong resistance zone.
Yeah1 owns the rights and produces the two TV programs "Brother Overcoming Obstacles" and "Beautiful Lady Defying the Wind", which have been airing since the end of June. This has helped the company secure major sponsors such as Techcombank and Samsung, becoming a key driver for its revenue growth. In the third quarter, Yeah1 reported revenue of over VND 345 billion, triple the figure from the same period last year. Its after-tax profit reached nearly VND 34.3 billion, 10.7 times higher year-on-year.
After facing challenges due to the YouTube incident and the COVID-19 pandemic in 2019-2020, which led to substantial losses, Yeah1 has managed to turn around its business by focusing on producing high-quality TV programs. This strategy appears to be paying off, with the company's stock price now reaching its highest level in over two years.
