SINOTRUK's stock plummeted 5% during intraday trading, extending a recent pullback after reaching record highs. The sharp decline reflects significant short-term selling pressure in the market.

The drop follows a dramatic upgrade by Goldman Sachs from "Sell" to "Buy" on April 13, which had propelled the stock to a record high. However, investors are now engaging in profit-taking, capitalizing on the recent gains. Additionally, institutional and northbound capital have been net sellers, indicating clear short-term selling pressure.

The broader heavy machinery sector is also under pressure, with peers like Sany International declining in tandem, contributing to the downward movement in SINOTRUK's share price.