TAIPEI (Taiwan News) — Shares in Taroko Corp., a popular batting cage operator in Taiwan, opened at the daily limit Monday (Nov. 25) after Taiwan defeated Japan 4-0 to win the WBSC Premier12 championship.
Trading volume surged tenfold in the first 10 minutes, with over 1,600 shares changing hands and an additional 3,400 shares waiting to be bought. Its price of NT$21.45 (US$0.66) is the highest the stock has been since early March, per Yahoo stocks.
Taroko is offering a limited-time promotion until Wednesday. Their "Taiwan No. 1 free batting" event will double the number of balls per session.
The promotion includes a buy-one-get-one-free offer on balls and free play on select batting cages. Meanwhile, extended free skating hours will be available at its roller skating rinks.
The company reported October revenue of NT$95 million (US$2.9 million), a 15.44% increase compared to the same period last year. Cumulative revenue for the first ten months of the year reached NT$1.06 billion, a decrease of 5.17% year-over-year.
The company's net loss was about NT$7.19 million in the third quarter. This brought the cumulative net loss for the first nine months of the year to NT$17.82 million.
The number marks a reversal from the company's profitability the previous year. While the core business remained slightly profitable, a one-time loss on a US investment resulted in an overall net loss.