Senway Energy Faces Delisting as Stock Hits Fourth Consecutive Limit Down, Over 32,000 Shareholders Trapped

Senway Energy (6806) is set to be delisted from the Taiwan Stock Exchange on June 23, following a trigger in the exchange's regulations due to its net worth becoming negative in the first quarter. This impending delisting has sent shockwaves through the market, leading to a significant sell-off.

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This now really becomes '7 Collapse Wise'.

The stock has experienced its fourth consecutive day of hitting the lower trading limit as of June 15, closing at NT$3.64. This sustained downturn reflects intense market panic and a flood of sell orders. Despite the sharp decline, over 32,000 shareholders remain invested in the company, with 7 major shareholders holding over a thousand shares each, collectively accounting for 59.03% of the total shares held in custody.

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Are these 7 big shots waiting for the final reversal?

Online forums, such as PPT, are buzzing with discussions about Senway Energy's predicament. Comments range from ironic observations about the remaining large shareholders waiting for a "final reversal" to expressions of sympathy for investors caught in the downturn. The situation highlights the vulnerability of investors, even in a generally strong market, and the significant losses that can be incurred when a company faces severe financial distress leading to delisting.

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Thousands of shares as wallpaper