Hot stock: Oceanus plunges 24.2% to year-to-date low

SHARES of Oceanus Group slumped to its lowest point for the year to date on Wednesday morning, as the counter continued its downward spiral that started earlier this month.

By 9.27am, the watch-listed seafood supplier had sunk to a year-to-date low of 2.5 Singapore cents, down 0.8 cent or 24.2 per cent from the open. It remained at the same level after 526.7 million securities worth S$13.9 million changed hands as at 10.05am.

ShareInvestor data showed that no married deals were recorded in early trade, although several large trades exceeding S$150,000 were carried out.

The counter's new low comes weeks after it hit a record peak of 7.8 cents on Feb 22, 2021 - its highest since 2012. Since March 1 it has charted a steep downward trajectory amid active trading.

Oceanus recently announced it was seeking an extension of time to exit the Singapore Exchange's watch list. The group intends to release its audited full-year consolidated accounts on or before April 15.