Shares of SK Telecom Co. Ltd. (NYSE:SKM) Sees Large Outflow of Money

SK Telecom Co. Ltd. (NYSE:SKM): The stock had negative money flow to the tune of ($0.87 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $0.44 million, whereas, the outflow of money on downticks was $1.3 million and the ratio between the two was 0.33. The block trade had a negative net money flow of ($0.87 million). On the other hand, downticks amounted to $0.87 million of the traded value, which shows distribution in the stock by traders. SK Telecom Co. Ltd. (NYSE:SKM) closed with marginal gains of 64 cents to end the day at $20.84, an increase of 3.17% over the previous days close. The stock recorded 6.33% for the week.


Currently the company Insiders own 1% of SK Telecom Co. Ltd. shares according to the proxy statements. Institutional Investors own 11.87% of SK Telecom Co. Ltd. shares.

The company shares have dropped -16.60% from its 1 Year high price. On Oct 19, 2015, the shares registered one year high at $25.54 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $20.12 and the 200 Day Moving Average price is recorded at $19.96. SK Telecom Co. Ltd. (NYSE:SKM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $20.79 and $20.72 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $20.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $20.95, notching a gain of 3.71% for the day. The total traded volume was 802,302 . The stock had closed at $20.20 on the previous day.

SK Telecom Co., Ltd. is a wireless telecommunications service provider. The Company offers the following core services: Cellular voice services; Wireless data services; Broadband Internet, Internet Protocol television (IPTV) and fixed-line telephone services, and New businesses. The Company provides wireless voice transmission and wireless global roaming services. The Company also provides wireless data transmission services, including wireless Internet access services, and text and multimedia messages. The Companys subsidiary, SK Broadband provides broadband Internet access service and other Internet-related services, including video-on-demand and IPTV services. The Company also provides local, domestic long-distance and international long-distance fixed-line telephone services to residential and commercial subscribers. Its new businesses include platform business, business-to-business (B2B) solutions business, healthcare business and other businesses.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.