Stock Track | East Buy Shares Plunge After Goldman Sachs Downgrades to 'Sell'

Stock Track07-30

Shares of East Buy Holding (01797), a leading Chinese e-commerce company, plunged as much as 6.96% during intraday trading on [DATE], following a rating downgrade by Goldman Sachs.

In a research note, Goldman Sachs analysts lowered their rating on East Buy from "Neutral" to "Sell" and slashed the price target to HK$7.10, citing concerns over the company's growth prospects and competitive pressures in the e-commerce market.

The "Sell" rating from a prominent investment bank like Goldman Sachs is a significant blow to investor sentiment, as it signals a bearish outlook on the stock's future performance. The lower price target also raises the possibility of further selling pressure, as investors may choose to exit their positions in anticipation of potential downside risk.

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