Amphenol Corporation (APH), a leading manufacturer of electrical and electronic connectors, saw its stock plummet 12.48% in intraday trading on Monday.
The sharp decline came as investors reacted to concerns over challenges facing the government's ambitious 3 million housing program. Reports emerged that the utilization of confiscated land from corruptors for the housing program is facing complications, raising doubts over the feasibility of using seized land for the large-scale housing initiative.
This development is significant for Amphenol, as the housing program was expected to drive substantial demand for the company's products, which are widely used in residential and commercial construction projects. With uncertainties surrounding the program, investors appear to be pricing in lower future demand, leading to the stock's plummet in Monday's intraday trading session.
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