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NVL – Novaland’s share price remained at 17,800 dong per share in today’s session, marking a second consecutive floor-price trading day and a decline of more than 13% from the peak. More than 36 million shares were recorded at the floor price on the bid side at 17,800 dong per share.
On May 4, NVL closed at the floor price of 19,100 dong per share. The session saw matched orders of over 35 million units, with nearly 23 million shares still available on the floor offer.
The drop came shortly after NVL’s prolonged rally. From around 10,000 dong per share in mid-March, the stock climbed to 20,500 dong per share by the close on 29/4, the highest level since mid-September 2023. In today’s session, however, the price stayed at 17,800 dong per share, down more than 13% from the peak.
Novaland Investment Group Corporation (HOSE: NVL) reported consolidated first-quarter 2026 results. Net revenue reached nearly 3,587 billion VND, up 102% year-on-year. Net profit exceeded 901 billion VND, reversing a loss of more than 443 billion VND in the same period.
The company attributed the performance mainly to revenue from real estate disposal of nearly 3,452 billion VND, up 111%. This was linked to product delivery at Sunrise Riverside, Aqua City, NovaWorld Phan Thiet, NovaWorld Ho Tram, and the disposal of land use rights.
For 2026, Novaland targets record net revenue of 22,715 billion VND, equivalent to 3.2 times 2025. However, after-tax profit is expected to be roughly unchanged versus the previous year at 1,852 billion VND.
At end-March, total assets rose slightly to over 253.1 trillion VND. Liabilities were over 193.3 trillion VND, up slightly from the start of the year and about 3.2 times equity. Financial debt increased 2% to nearly 69 trillion VND.
Financial costs also rose to 859 billion VND from 633 billion VND in Q1, mainly due to interest costs from contract investments. The company described this as interest it must pay to partners (other investors) based on contributed capital, fixed profit commitments, or profit/product sharing ratios.
At its recent annual general meeting, Novaland planned to issue more than 167.58 million bonus shares at a ratio of 40:3. The issuance value is more than 1,675 billion VND, sourced from additional paid-in capital.
In parallel, the company planned to issue about 111.7 million ESOP shares (5%) at 10,000 VND per share, expected to raise over 1,117 billion VND. Recipients are board members and employees based on contribution criteria and internal allocation. Novaland said total proceeds will be used to support business operations and working capital.
Novaland also adjusted its private placement plan, increasing the maximum number of shares to 800 million from the previous plan of 350 million. The offer price will not be lower than 75% of the average closing price of NVL over the last 30 sessions, replacing the former fixed price of 10,000 VND per share. Based on this, Novaland could issue a total of about 1.079 billion new shares.
Novaland currently has about 2.23 billion outstanding shares. If another 1 billion shares are issued, total outstanding shares could reach about 3.23 billion, implying significant dilution for existing shareholders.
According to the latest information, the Ho Chi Minh City Stock Exchange approved Novaland to change the number of listed shares. The additional listed stock count is 2.47 million shares, with the reason being the issuance of shares to convert bonds.
Following the two consecutive floor-price sessions, some investors compared NVL’s situation with PC1, which had also fallen sharply in the past. PC1 experienced three consecutive floor-price sessions, with total outstanding shares at floor price exceeding 65 million shares, while rumors about negative information circulated without official confirmation. On the fourth trading day after the rumors, PC1 was reportedly “rescued” with an abrupt increase in matched volume totaling 34 million shares.
At PC1’s recent annual general meeting, the company approved 2026 targets: consolidated revenue of 15,618 billion VND (up 19% year-on-year) and consolidated after-tax profit of 1,056 billion VND (down 22%).
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