Stock Track | Zhida Tech Plummets 5.18% Intraday on Profit-Taking After Multi-Day Rally

Stock Track05-15

ZHIDA TECH-NEW (02650) saw its stock price plummet by 5.18% during intraday trading on Friday, marking a continued correction phase.

The decline follows a significant multi-day rally earlier in the week, which was fueled by several positive developments. These included the company's strategic partnership announcement with Shanghai Qiyuan Xindongli Technology to expand overseas markets in EV-related sectors, the launch of three new core products, and its inclusion in the Hang Seng Composite Index.

Market analysts view the current sell-off as a natural correction driven by profit-taking pressure after substantial short-term gains. Sentiment was further weighed down by a large block trade executed in the previous session, which intensified selling pressure.

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