ABS-CBN’s stock price has reached another record high since January 2021.
On Wednesday, June 30, ABS-CBN Corporation’s stock price closed at Php13.98, its highest since January 22, where it was priced at Php13.96.
The Network’s stock price on Wednesday opened at Php12.98, with its intraday low at Php12.90 and its highest during the day at Php12.90 before closing at Php13.98.
This is the third straight day that ABS-CBN’s stock price recorded its highest.
On Monday, June 28, the Network’s share price closed at Php11.80, its highest since March 9.
On the following day, Tuesday, June 29, Kapamilya network’s stock price closed at Php12.68, its highest since March 1.
Since April, ABS-CBN’s share price has been fluctuating between Php10-Php11 in an upward trend.
ASB-CBN has been slowly regaining its market confidence after a disastrous 2020 following their network shutdown.
On January 22, ABS-CBN recorded its highest at Php14.50, a 115% increase from its lowest in September 2020 where it is priced at Php6.76.
According to some financial analysts, ABS-CBN’s continued stock price increase is driven by its entry into different platforms and block time agreements.
Although ABS-CBN shows continue to air on a limited reach, they managed to compete with GMA Network in terms of ratings. Two of its most popular teleseryes that air over A2Z and TV5 are consistent in their Top five leaderboard ranking.