STA-STGT Slip Nearly 10% in Response to the Positive News of Coronavirus Vaccine

The share price of Sri Trang Agro-Industry Public Company Limited (STA) and Sri Trang Gloves (Thailand) Public Company Limited (STGT) fell on Wednesday, July 22, 2020, as the world started to see a ray of hope for a coronavirus vaccine.

 

As of 10:17 local time in Thailand (GMT+7), STA dropped ฿1.75/share or 6.19% to ฿26.50/share, while STGT fell ฿8.00/share or 9.64% to ฿75.00/share.

 

The decrease in share prices might be due to positive reports of coronavirus vaccines from Oxford University that built the immune system in patients, which could cause the demand for rubber gloves to decline.

UK government had already ordered a mass production for 100 million doses of Oxford’s vaccine. The university stated that it would test on a larger group to make sure that the vaccine works and is safe. The result should be before the end of the year, but to make it widely spread would be at the beginning of next year the earliest.