Stock Track | DRINDA Plummets 5.04% Intraday Amid Weak Photovoltaic Glass Market and Soaring Inventory

Stock Track04-22

DRINDA's stock price plummeted 5.04% during intraday trading on Wednesday, reflecting a sharp decline for the photovoltaic company.

The drop is attributed to continued weakness in the photovoltaic glass market. Industry data shows inventory days have surged to 51.90 days with capacity utilization at only 64%, leading to deeply negative weekly net profits. Furthermore, intense price competition has emerged, with some companies offering extremely low prices to maintain cash flow. Recent reaffirmations by government departments against internal competition within the photovoltaic sector have particularly impacted the glass segment, contributing to the sector-wide sell-off.

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