The EiDF stock market castle continues to crumble on the Spanish stock market. Its shares register a new collapse of 41% this Tuesday, to 5.26 euros, after the stock market opening. The Galicia-based photovoltaic company resumed its activity on the stock market on Monday at BME Growth after a period of four and a half months of trading suspension imposed by the CNMV.
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The value yesterday registered a record fall of 69.99%, placing its value at 8.93 euros at the end of the session, although with a volume of just 300,000 euros. This is changing and the purchase and sale of titles is skyrocketing. In just 15 minutes, the exchange skyrockets above 1.5 million euros (173,000 shares), according to data provided by BME.
Minimum since IPO
The value of the share stood at 29.7 euros since it was suspended on April 14 and until Sunday its market capitalization was 1,721 million euros. Now, EiDF has lost 1.4 billion euros on its return to the market and is barely worth 300 million, the lowest since July 7, 2021 when BME Growth debuted on the market through the placement of new shares (OPS).
This stock market crisis originates from the dispute between EiDF and the CNMV over the way in which Deloitte’s forensic report was disseminated, which revealed accounting irregularities that the company is still correcting. The regulator clarified that the audit firm (Deloitte), contracted by the other auditor (PwC), has identified falsified documentation in some of the company’s transactions.
