Hot stock: AEM hits 4-year low after Q1 earnings miss
May 9, 2024 / /
SHARES of mainboard-listed AEM Holdings fell as much as 14.7 per cent in early trading on Thursday (May 9) after the group posted an 85 per cent drop in net profit for its first quarter ended March.
Its counter tumbled to a four-year low of S$1.98, down S$0.34 as at 9.15 am. The last time its shares closed near this level was Apr 15, 2020.
By 10.48 am, AEM’s shares were trading 12.1 per cent or S$0.28 lower at S$2.04 amid heavy trading, with 6.4 million shares changing hands.
On Wednesday, AEM, which provides advanced chip testing solutions, posted an 85 per cent fall in net profit to S$2.4 million for the first quarter, from S$15.6 million in the same period a year ago.
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