CIDI-NEW's stock plummeted 5.35% intraday, marking a significant pullback in its trading session.
The decline comes as a natural technical correction following a surge of more than 70% over the preceding six trading sessions. The recent rally was fueled by several positive developments, including the company's formal inclusion in the Stock Connect program, which opened the stock to southbound capital from mainland investors, and the release of strong fiscal year results showing revenue growth of 115.8% and an 86.7% surge in gross profit.
Additionally, the company's core autonomous mining truck business reported delivering 630 units, a 317.22% increase, with cumulative deployments exceeding 1,500 units. With these favorable catalysts largely priced in after the sharp gains, the stock experienced a corrective move.
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