Estun Automation's stock plummeted 5.53% during intraday trading on Thursday, extending a recent period of selling pressure.
The decline was fueled by market concerns after a company shareholder transferred a 5.27% stake, valued at approximately HK$84.58 million, between financial institutions. This move sparked worries about a potential disposal of shares. Furthermore, significant profit-taking emerged as investors locked in gains following a sharp prior rally. The stock had surged recently, driven by catalysts in the humanoid robot sector and exceptionally strong first-quarter earnings growth.
Sentiment was further dampened by broad weakness across the Industrial Machinery sector, which created a negative drag on related stocks during the session.
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