On July 24, QUANTGROUP fell 6.65% in regular trading, trading at HKD 11.86/share, with turnover of HKD 67.80 million. The stock extended its decline from the previous session as profit-taking pressure continued to intensify.
On the news front, the company completed a directed placement of 4.597 million new shares to a subsidiary of GoFintech Quantum Innovation on July 21 at a subscription price of HKD 13.05 per share, raising net proceeds of approximately HKD 59.7 million. The current share price has now fallen well below the HKD 13.05 subscription price, implying paper losses for the subscriber and amplifying bearish market sentiment. Additionally, non-executive director Zhang Yi resigned on July 20 citing personal career development.
The stock had surged approximately 70% in early July driven by the Physical AI concept and triggered the volatility control mechanism during that rally. Following the exhaustion of short-term catalysts including the placement completion and Forbes China AI Top 50 recognition, funds have continued to exit, with the consecutive pullback showing no signs of stabilization.
(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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