Sensetime-W's stock plummeted 6.02% during intraday trading on Monday, extending a recent downtrend for the artificial intelligence company.
The sharp decline was driven by concentrated institutional selling, with market data revealing multiple block sales ranging from 1.4 million to 3 million shares per transaction in recent sessions. Southbound Hong Kong Stock Connect flows showed net selling of approximately 167 million shares over a five-day period, reflecting continued reduction by mainland capital, while short-selling activity remained elevated above 25% of daily turnover.
Despite the company's recent announcement of a proposed share buyback authorization of up to 10% of issued capital, bearish momentum driven by institutional de-risking has overwhelmed this supportive signal, pushing the stock below prior technical support levels.
Comments