Stock Track | East Buy Plummets 5.17% Intraday as Share Buybacks Fail to Offset Selling Pressure

Stock Track05-15 13:17

East Buy's stock plummeted 5.17% during intraday trading on Friday, continuing its downward trend despite the company's aggressive share repurchase efforts.

The company has conducted share buybacks for four consecutive trading days, repurchasing a cumulative 3.3265 million shares at a total cost of approximately HK$87.40 million. Despite this sustained buyback effort, the stock has fallen more than 5% cumulatively during the repurchase period, indicating that the buybacks have been insufficient to offset broader selling pressure.

Market sentiment remains weak as the current share price has dropped below the entire buyback price range of HK$25.52 to HK$27.08 per share, suggesting that investors continue to sell despite the company's repurchase program.

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