Novaland shares hit floor price amid heavy selling pressure

Novaland Group (NVL) shares experienced significant downward pressure during the morning session on September 28, hitting a floor price of 11,050 VND per share. The stock saw a decline of 6.8% with a trading volume of nearly 9 million units, while sell orders at the floor price exceeded 45 million shares.

This decline follows a series of five consecutive sessions of price reductions. The company's market capitalization has decreased to 26,543 billion VND.

Related selling activity has been noted among entities connected to company insiders. Diamond Properties, a firm linked to Novaland Chairman Bui Cao Nhat Quan, has registered to sell 2.7 million NVL shares to balance its investment portfolio. This marks the fourth time Diamond Properties has sold NVL shares since the beginning of 2026. Additionally, the Novaland grassroots trade union has registered to sell 2.5 million shares to support union activities.