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Namyang’s COVID-19 claim The root cause of this action from the investors was Namyang Dairy’s claim that its Bulgaris yogurt drink can help fight the symptoms of COVID-19. Last week, the South Korean food and dairy company said that its stock price increased by more than eight percent on April 13 and continued to go up to over 28% the next day. At that time, it was reported that Namyang’s share surge was caused by the consumers’ rush to buy its Bulgaris yogurt after it released a statement saying that the product can prevent COVID-19. However, health officials are questioning the com...
Namyang Dairy saw a surge in its shares after claiming its Bulgaris yogurt variants can help lower the risk of COVID-19 infection. The company's day trading on Wednesday, April 14, reportedly increased. As per The Korea Herald, Namyang Dairy’s shares once shot up by 28.68% to KRW489,000 or around $437.39 in the early morning trading. It was added that within 20 minutes after the opening bell, the company’s preferred stocks also surge by the daily allowable limit of 29.78% to reach KRW231,000. Prior to Wednesday’s results, it was reported that the firm’s shares went up 7.19% and 6.71% ...