Kingboard Holdings' stock plummeted 5.20% during intraday trading on Tuesday, marking a significant pullback for the electronic components manufacturer.
The decline comes amid broad weakness in the electronic components sector, with several of Kingboard's subsidiaries and peers also experiencing losses. Market sentiment has been further weighed down by Chairman Cheung Kwok Wing's recent disposal of shares, which reduced his stake in the company.
This pullback follows a period of strong gains driven by Citi's bullish outlook on AI infrastructure demand, which had previously pushed the stock to consecutive all-time highs. The bank had significantly raised its target price and earnings forecasts for Kingboard, citing expected shortages in glass fiber, copper foil, and copper clad laminate materials.
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