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[Alpha Biz=(Chicago) Reporter Kim Jisun] Short selling of Medytox is rampant. As the stock price rose as it drew attention after the lawsuit, the short selling balance tripled in a month. In addition, the share of short selling in total transactions has doubled.
According to the Korea Exchange on the 6th, Medytox's short-selling balance stood at 198,963 shares as of the end of last month. This is more than three times higher than early last month (54,271 shares). As a result, the balance of short stock selling surged from 13.2 billion won to 48.9 billion won.
Medytox soared more than 100% this year. The stock price, which stood at 128,000 won at the end of last year, closed at 262,500 won on the 2nd.
The stock price hike began in February when it won the first trial of a civil suit. It hit the upper limit after Medytox's claim was largely recognized in the first trial of a civil suit against Daewoong Pharmaceutical Co. on Feb. 10, and later continued to fall after soaring stock prices, drawing a curve in the long run.
However, as stock prices continue to rise, public sales are also on the rise. Starting with the designation of overheated short selling items on Feb. 10, short selling has been expanding its share of all transactions.
The portion of public sales in February and March was only 5.69 to 6.02 percent, but the portion surged to 11.87 percent last month. As of this month, there is an average public sale of 9.33%. The average daily transaction amount of short selling was 2.3 billion won on average in March, but now it is 4.2 billion won.
It is noteworthy that while institutions continue to buy Medytox, foreigners are betting on Medytox's share price decline through short selling.
The agency bought a total of 76.7 billion won in Medytox this year. Among them, financial investment was the largest with about 30 billion won, and pension funds were the second-largest net purchase with 22 billion won. Foreigners, on the other hand, sold a net 34 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
