The world's largest glove manufacturer, whose share price has tumbled close to 50% since the ban, gained as much as 10.29% to RM3.75 today following the news. While analysts are positive about the news that Top Glove is now allowed to resume its sales to the US market following the upliftment of the detention order on its subsidiaries, they said the news came late for Top Glove. After observing the company's share price performance today, JF Apex Research analyst Nursuhaiza Hashim said the CBP's lifting of the ban on Top Glove "took longer than expected". "As we can see, after this news came out, the share price did not rally much. Following the ban, its North American sales sank to just 8% of Top Glove's total sales volume in 3QFY21.
