Lower circuit to upper circuit: Only buyers in this low-price stock, which has fallen from Rs 65 to Rs 15 in less than two months!

It was one of the top performing penny stocks in 2022, with shares rising from Rs 10 per share in January to Rs 65 per share in July of this year, recording a 500 per cent gain in such a short period.

Shares of VCU Data Management caught the attention of investors on Friday's trading session, as only buyers were observed in the counter for the first time in a long while. On Friday, the shares of VCU Data Management were locked in the 5 per cent upper circuit.

Interestingly, VCU Data Management was one of the top performing Penny Stocks in 2022, with shares rising from Rs 10 per share in January to Rs 65 per share in July of this year, recording a 500 per cent gain in such a short period.

However, since reaching a high in July, shares have been declining steadily. The counter's back-to-back lower circuit has caused the shares to fall by more than 75 per cent in less than two months.

The market has a tendency to overshoot in both directions, which means that stock prices can race ahead of fundamentals and trade far above their intrinsic value when bullish, and they can also fall far below their intrinsic value when bearish.

Currently, the stock is trading below its book value of Rs 19 per share. It is hardly surprising that some buying has emerged for this beaten low-priced stock, which has dropped by more than 75 per cent in less than two months. The stock is clearly oversold.

VCU Data Management is in the electronic industry, trading and manufacturing electronic items like as security and surveillance systems.

Keep a close eye on this scrip for the upcoming sessions!