“A 10% Drop After a 23% Surge”... DONGYANG EXPRESS CORP. Sees Roller-Coaster Swings [Stock NOW]

[Financial News] DONGYANG EXPRESS CORP. has been experiencing sharp intraday swings. It appears to be giving back gains made so far on expectations for the redevelopment of the Seoul Express Bus Terminal.
According to the Korea Exchange, as of 11:28 a.m. on the 13th, DONGYANG EXPRESS CORP. was trading at 38,250 won, down 7.28% from the previous trading day's close.
DONGYANG EXPRESS CORP. opened at 38,700 won, unchanged from the previous trading day's close, then climbed to as high as 47,700 won, up 23.3%, around 9:10 a.m. It then plunged, falling to as low as 34,800 won, down 10.1%, around 10:20 a.m. It later rose to 40,350 won, up 4.3%, at one point around 10:45 a.m., but turned lower again.
DONGYANG EXPRESS CORP. had previously risen 32.3% from the 7th through the previous day, closing higher for three consecutive trading sessions on expectations for the redevelopment of the Seoul Express Bus Terminal. It holds a 0.17% stake in the terminal and is considered a potential beneficiary of the project. The stock is thought to have turned lower today as investors took profits.
The Seoul Metropolitan Government and Shinsegae Group are holding working-level discussions on redeveloping the Seoul Express Bus Terminal. The plan reportedly includes consolidating the Gyeongbu, Yeongdong and Honam line terminals underground on a 146,260.4-square-meter site in the area around the terminal, and building a complex above ground.

[email protected] Im Sang-hyeok Reporter