East Buy's stock surged 8.93% during intraday trading on Thursday, marking a significant recovery for the livestream e-commerce company.

The sharp rise follows the company's completion of a share buyback cancellation program. Management cancelled approximately 7.418 million ordinary shares that were repurchased earlier, a move widely interpreted by the market as a strong signal of confidence in the company's intrinsic value and future prospects.

Analysts also note that the rally represents a technical rebound from an oversold condition. The stock had faced significant selling pressure in the previous session after reports emerged that former company executives were establishing a competing livestream e-commerce venture, raising concerns about increased market competition.