The market on Monday, reacted to the death of the group chief executive officer, of Access Holdings, Herbert Wigwe, with a drop of 6.26 per cent or N1.55 in the stock price of the financial institution on the Nigerian Exchange Limited (NGX).
The stock price opened for trading at N24.75 per share and closed at N23.20 per share as investors traded the bank’s stock with caution.
Herbert, his wife and son were involved in the ill-fated helicopter that crashed in the United States, on Friday.
They were in the helicopter with Abimbola Ogunbanjo, former group chairman of Nigerian Exchange Group Plc (NGX Group) when the chopper crashed in California near the Nevada border.
So far in 2024, the stock price of Access Holdings has appreciated by 0.22 per cent or N0.05 per share as of February 12, 2024, on the backdrop of Federal government foreign exchange unification and removal of subsidy on fuel.
Access Holdings opened for trading in 2024 at N23.15 per share.
Meanwhile., based on data from the NGX, the All-Share Index advanced by 0.18 per cent on Monday as 30 stocks appreciated and 23 stocks recorded a decline.
The CEO of Wyoming Capital and Partners, Mr. Tajudeen Olayinka stated that the drop in Access Holding is the usual market reaction to price-sensitive information in the immediate to near term.
He expressed further that, “This could be corrected with any positive news from the company, especially now that an Acting Group Managing Director is being put in place.”
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