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Screenshot of a breaking news alert e-mail from Q2 2017
After a 30% drop late week, shares of Hong Kong based retail forex broker KVB Kunlun (HKG:8077) continued to fall in Monday trading on the HKEx, shedding more than 11% to close at HK$1.04 per share.
KVB shares spiked last week to a high of HK$1.67 last Wednesday, after trading in the HK$0.40 range for most of the past year, when the company disclosed it was in early discussions for a potential takeover.
However with no more news about a takeover out there, it looks like the investors who made some money as shares spiked are taking their profits and bailing out. If a deal does not materialize, it is certainly possible for KVB to head back to the mid- HK$0.40’s where it was trading before.
KVB share price last 5 days. Source: Google Finance.