Short-sellers hammer Cypark

Cypark stock suffered a 24% drop on May 24 and another drop of 24% on May 25, dragging the market capitalisation to RM223.8mil as of yesterday, according to Bloomberg data. (File pic: Cypar'ks renewable energy park in Pajam)

PETALING JAYA: Over RM160mil was wiped off Cypark Resources Bhd’s market capitalisation in a mere two days, as short-sellers exerted pressure on the renewable energy player.

The stock suffered a 24% drop on May 24 and another drop of 24% on May 25, dragging the market capitalisation to RM223.8mil as of yesterday, according to Bloomberg data.