What is the story of the Saudi Red Sea 'share?

Contrary to the direction of the “Tassi” index, the share of the “World Red Sea” Saudi Arabia began trading today with a sudden increase in more than 3%, despite the announcement of the company that the accumulated losses exceeded 97% of the capital by the end of the first quarter. In a disclosure of the stock exchange today, the company reported that it had reduced its net losses by 62% during the first three months of this year, but the report of the external account auditor indicated that “the existence of an important case of discretion that has great doubts about the group’s ability to continue based on the principle of continuity.” Mary Salem, the financial analyst of “Al -Sharq”, believes that the share of the real estate company is “surprising” because the ‘world red sea’ is near to remove the capital, which is supposed to cause anxiety for investors. And she saw that the rise of the share could be caused by “speculation or a positive future view of the projects signed by the company last year.” Note many items about the ‘unclear’ financial statements, especially for the year 2024; And it “The fundamental change of data is not positive because it raised doubt about the previous data the company announced.” Mohamed Zidan, the first financial analyst in the “East”, attributed the separation between the movement of the share, which has dropped about 30% since the beginning of the year, and the company’s results in the first quarter that “the momentum of purchase is moving based on the future vision of the business, not the current reality.” Rights; He pointed out that the company has not yet published its financial lists; “It must wait for the publication to evaluate the results more accurately.”