Alios Finance, Tractafric Motors Lead Weekly Declines on BRVM
TLDR
- SAFCA's stock value dropped by 13.99% due to investor speculation, stopping two consecutive weeks of gains.
- Tractafric Motors CI (PRSC) experienced a sharp 13.08% decline following a significant decrease in net income reported in March 2024.
- Air Liquide, Setao, and Oragroup also faced declines, positioning them among the week's worst-performing stocks.
Alios Finance, now SAFCA, (SAFC) saw its stock value drop by 13.99% to 830 FCFA last week, halting two consecutive weeks of gains. Investor speculation led to the downturn, placing the stock among the week's worst performers with a CCI indicator in the overbought zone.
Tractafric Motors CI (PRSC) also faced a sharp decline, with its share price falling 13.08% to 2,260 FCFA. The decrease followed a significant drop in net income reported in March 2024, marking the stock's steepest weekly drop since November 2023.
Other notable decliners included Air Liquide (-8.46% to 595 FCFA), Setao (-5.11% to 650 FCFA), and Oragroup (-2.93% to 1,825 FCFA), which were all part of the week’s worst-performing stocks.
Key Takeaways
Investor activity slowed down, with trading volumes dropping 26.02% to 3.44 billion FCFA from 4.65 billion FCFA the previous week. Despite this decrease, Sonatel (+2.00% to 22,950 FCFA) and Sitab (-0.14% to 6,990 FCFA) captured the majority of transactions, with volumes of 664.63 million FCFA and 349.48 million FCFA, respectively.
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