Hot stock: Yuuzoo's counter falls 13% at mid-day

SHARES of Yuuzoo traded down 13 per cent or 2.4 cents to S$0.16 as at 1.35pm on Thursday.

Some 19.9 million shares changed hands.

The social e-commerce network company had announced last week that it is expected to earn S$33.4 million in profits from the sale of licences to new franchisees.

It has signed new franchise agreements that cover 59 countries across Asia, Europe and Africa. These include agreements announced earlier for South Korea and Turkey, as well as new agreements in other fast-growing markets such as Poland, South Africa and Kenya.