DSC Investment, a stock related to the presidential candidate Lee Jae-myung, has continued a strong upward trend but fell by over 10% early on the 23rd. This drop is interpreted as increased selling pressure following news that key executives sold some of their equity.
As of 9:34 a.m. on the 23rd, DSC Investment shares are trading at 7,170 won, down 910 won (11.26%) from the previous trading day in the KOSDAQ market.
The worsening investor sentiment is interpreted as a result of news that major shareholders, including executives from DSC Investment, sold their shares. The sale of equity by the largest shareholder or executives is regarded as a signal that the company's stock price is at a peak, which is perceived as bad news in the market.
According to the Korea Exchange on the 23rd, Kim Yo-han, Deputy Minister at DSC Investment, sold 210,000 shares and 40,000 shares, respectively, on the 15th and 16th. It was also disclosed that other key executives, including Deputy Minister Park Jeong-woon, sold their equity. DSC Investment shares rose to the price limit of 29.98% on the 14th.