Stock Track | EAST BUY Soars 5.19% Intraday as Market Digests Management Shakeup and Business Expansion Boosts Confidence

Stock Track11:10

EAST BUY's stock price surged 5.19% during intraday trading on Thursday, marking a significant rebound for the company.

The stock's rise comes as the market progressively digests earlier negative developments. Previously, concerns over management stability were triggered by the consecutive resignation of CEO Sun Jin from key positions at two New Oriental subsidiaries, coupled with a wave of core anchor departures, which had driven the stock into consecutive declines around mid-June.

Investor sentiment has been supported by the company's ongoing business expansion initiatives, which remain on track. These include the construction of a new livestream studio in Hangzhou, a planned 50% expansion of its product team, the launch of 200 new products within three months, and plans to recruit 30 additional product managers.

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