The Securities and Exchange Commission (SEC) has ordered the stock regulator to investigate statements by JKN Global Media (JKN) executives regarding its new hemp investment promotion that drove up its share price this week.
The share price of JKN dropped 2% when the stock opened for trading on Wednesday after the SEC issued the order to the Stock Exchange of Thailand (SET) to conduct a preliminary investigation, before increasing 3.51% to close at 11.80 baht in trade worth 1.58 billion baht.
Earlier this week, the company published a post on Facebook that provided information about its planned hemp business and invited people to invest in its shares, then later removed the post.
JKN rented the air time on New18 digital TV channel for two months starting March 8 to sell…
