Stock Track | Novosense Plummets 5.17% Intraday as Profit-Taking Hits After Sharp Rally
Stock Track
May 21
NOVOSENSE (02676) saw its stock price plummet 5.17% during intraday trading on Thursday, following a significant surge in the previous session.
The decline is attributed to concentrated profit-taking by investors after the stock rallied over 12% and hit a new post-listing high. The stock had accumulated substantial short-term gains driven by several positive factors, including a 59.17% year-over-year increase in first-quarter revenue, the semiconductor price hike wave extending to power management ICs, and shareholder approval for an H-share buyback authorization.
Following the rapid ascent, technical correction pressure intensified, prompting investors to lock in profits, leading to the sell-off.
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