Stock Track | EAST BUY Plummets 5.37% Intraday on Management Instability and CEO Resignations

Stock Track06-17

EAST BUY's stock price fell sharply by 5.37% during the intraday session, reflecting heightened investor concern.

The decline was triggered by deepening management instability, following the resignation of CEO Sun Jin from key subsidiary positions. Recent business registration changes show Sun Jin stepped down from critical roles at two New Oriental Group subsidiaries, with Wang Wei taking over both positions. The market interprets this as a sign that internal turbulence has forced management to consolidate focus.

This management shakeup compounds an ongoing anchor departure wave. Since April, four core live-streaming hosts have announced their resignations, with some publicly criticizing the new leadership. Founder Yu Minhong acknowledged in a live broadcast that management methods had deviated following leadership restructuring. Investors are concerned that persistent personnel turmoil will further undermine the stability of the company's live-streaming e-commerce operations and its fan base.

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