Stock Track | ILUVATAR COREX Plummets 5.06% Intraday on Technical Profit-Taking and Lock-up Expiry Concerns

Stock Track06-02 10:05

ILUVATAR COREX (09903) saw its stock price plummet 5.06% during Tuesday's intraday session, extending a recent period of decline for the semiconductor company.

The sharp drop is attributed by the market to technical profit-taking activity following a significant rally. The stock had previously surged over 17% in late May, driven by its upcoming inclusion in the Hang Seng Composite Index and a positive initiation of coverage by Haitong International with an Outperform rating.

Adding to the near-term selling pressure are investor concerns regarding the impending expiration of lock-up periods for the company's cornerstone investors, which is set to begin progressively in July, potentially increasing the supply of shares available for trading.

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