Sell pressure witnessed on the shares of Nestle Nigeria Plc since the beginning of the year has resulted in investors of the company; losing about N124.05 billion at the close of trading. The consumer goods stock dropped by 10%; to N1,400 per share from N1,556.00 which was the opening share price in January.
Further analysis showed Nestle closed its last trading day at N1,400 per share and N1.109 trillion; in market capitalisation on the Nigerian Exchange Group (NGX) as against N1,556 per share and N1.233 trillion in market capitalisation at the beginning of trading in January 2022; hence has earned a loss of N124.050 billion or 10% year to date.
-Nairametrics.
