A Thai Stock’s 1,000% Surge Leaves Market Watchers Dumbfounded
- Delta Electronics has defied all fundamentals: Krungsri’s York
- Stock exchange has issued a warning about volatility in shares
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Electronic-parts maker Delta Electronics (Thailand) Pcl’s shares have surged almost 13-fold over the past year, leaving market watchers and even the company puzzled. With fundamentals not strong enough to justify the meteoric rise, analysts too are falling out of love with the stock.
While stocks in the sector have emerged as a hot play after the pandemic boosted work-from-home activities and spurred demand for video-conferencing, cloud services and e-commerce, Delta has rallied more than any of the world’s electrical stocks with a market value of more than $500 million.