On June 23, 51World fell 7.67% in regular trading, trading at HK$93.15/share, with turnover of HK$155 million. The stock extended its correction from the 52-week high of HK$147, having now retreated over 36% from peak levels.
The decline comes amid sustained profit-taking pressure following a one-month rally that previously exceeded 185%, initially catalyzed by Nvidia Cosmos 3 and physical AI sector momentum. The company's price-to-book ratio remains at approximately 50x with persistently negative net profit, placing valuations at extreme levels. Concurrently, the broader Application Software sector came under broad selling pressure, with peers including XPeng Robotics declining over 6% and Paradigm Intelligence falling over 3%, further intensifying the correction in high-beta names.
Despite the near-term pullback, southbound capital had accumulated net purchases of over 3.01 million shares over the prior 20 trading days, though elevated valuation multiples and the absence of profitability continue to weigh on sentiment.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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