Tenbagger stocks show resurgence
By Anna J. Park
It has become more frequent these days to see tenbagger stocks ― shares in companies that pay off more than 10 times their initial purchase price ― both on markets here and abroad.
More such cases are witnessed on the U.S. stock markets, where daily price ceiling limits do not exist, than in Korea where a daily limit up (down) ― share price increase (decrease) ― of 30 percent is enforced.
However, local biopharmaceutical company Vaxcell Bio Therapeutics, a manufacturer of cancer immunotherapy drugs that was listed on the tech-heavy Kosdaq Sept. 22, has seen its stock price skyrocket closing at 202,500 won ($185), Friday. This is nearly a 10-fold jump from the 21,300 won close on the first day of its IPO.