On June 16, Lightelligence-P fell 5.9% in regular trading, trading at HK$511.0/share, with turnover of HK$13.86 million.
On the news front, the stock surged over 15% in the prior trading session, driven by a broad rally in the optical communication sector and the official launch of the Shanghai Integrated Optical Computing Chip and System Key Laboratory, co-built by Shanghai Jiao Tong University and the company. Following the sharp single-day rally, concentrated profit-taking selling pressure triggered a pullback.
Additionally, the company had previously experienced a market rumor storm that sent shares tumbling from a June 3 high of HK$708. Although the company issued a clarification announcement denying all allegations, filed reports with law enforcement, and announced a share buyback plan of up to 10% of issued H shares, market confidence recovery remains ongoing. The overhang from earlier unsubstantiated rumors continues to weigh on price performance as selling pressure from both profit-takers and cautious investors persists.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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