Sky One, Tritech shares crash
Nosedive triggers spillover selling pressure on rest of penny segment
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SHARES in logistics firm Sky One and engineering company Tritech Group crashed spectacularly yesterday, triggering fears that they might be classified as "designated securities" by the Singapore Exchange (SGX) and creating spillover selling pressure on the rest of the penny segment.
A dealer, referring to the collapse in Sky One in the morning, said: "The sky is falling on penny stocks.
"There was worry that, with such a steep loss, SGX will step in and designate the stock as it did with three others recently."
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