Just as countless investors and funds began to feel afraid from the large drop in Sena’s share price, the Nasdaq Exchange published three official statements in a row.
The first was to inform all investors that Sena’s share price was currently undergoing extreme oscillations and were highly risky. Thus, investors were reminded to invest cautiously.
This was essentially an official statement of utter nonsense. It served no purpose other than to remind people of its existence.
The second statement was that Sena had already applied for a special procedure with the Review Committee due to major asset restructuring. As of that moment, the Committee was currently reviewing Sena’s application to ensure that it complied with Nasdaq’s trading regulations.
When they read this statement, many people let out an unsurprised smile.
Sena had indeed panicked at such a time.
There were only so many outcomes when a public company applies for a major asset restructuring with the exchange center.
There was a ninety percent chance that Sena was making preparations for a trading halt.
After all, when a public company goes through asset restructuring, it was not uncommon for it to experience a trading halt for a few trading days.
This was a reasonable request.
Considering Sena’s current situation, everyone could tell that Sena was unable to endure the plummet in share price and had chosen to halt trading to prevent further loss.
The more experienced and skilled traders began to shake their heads at this. They wondered if something was wrong with Sena’s decision-makers.
It was evident that investors in the market currently lacked trust in Sena, and this lack of trust was the reason for the drop in share prices. Yet, instead of releasing good news, Sena had decided to avoid the battle. This would only shatter the trust of the remaining investors who still had any faith in Sena.
Applying for a trading halt would only result in even more severe consequences, with more investors losing hope in Sena.
Moreover, a public company could not halt trading forever, and the day Sena resumes trading would be the day Sena’s valuation will be completely shattered.
This was a stupid move!
After mocking Sena’s decision-makers, these people then clicked on the third official statement.
With a few lines, the third statement had everyone swallowing their words.
It stated that after review from Nasdaq’s Review Committee, Somerland’s JW Capital Ltd. Co. had invested 1 billion Somer Dollars into Sena as its majority shareholder to increase the issues of shares.
Sena’s request for their major asset restructuring situation was proven true, and so, special procedures had been approved.
Sena’s share prices would undergo special procedures, effective immediately, and Sena’s shares would not be restricted to any pricing limits for the next three days.
This third official statement served as a harsh awakening to the people who had previously made assumptions after reading the second statement.
Instead of applying for a trading halt, Sena had applied to cancel all price limits due to the increase in issues of shares.
‘This means a f*cking huge event is about to occur!’
Analysts and investors did not have time to regret their words as they became all fired up.
Canceling rising and limit down restrictions meant that Sena was initiating battle. This was a matter of life and death!
These were rare battles.
After all, the shifting of price limits usually led to the oscillation of tens of millions in market value. A person’s wealth could either skyrocket or vanish in the blink of an eye, and people were usually never impulsive enough to make such a decision.
Despite this, Sena had shown the world that even if others did not dare to face such a challenge, they would!
