Largan shares under pressure on Q2 results
07/09/2021 11:03 AM
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Taipei, July 9 (CNA) Shares of Largan Precision Co., a supplier of smartphone camera lenses to Apple Inc., came under heavy downward pressure Friday morning in the wake of a plunge in net profit in the second quarter of this year, dealers said.
As of 10:02 a.m., Largan's share price had lost 4.76 percent, falling to NT$3,000.00 (US$107) per share, with 572,000 shares changing hands on the Taiwan Stock Exchange, where the weighted index fell 1.26 percent to 17,641.04 points.
Soon after the local equity market opened, Largan shares faced sell-off as investors were motivated to dump the stock due to the company's weakening bottom line for the April-June period, as disclosed in an investors conference held on Thursday.