On July 3, WellCell (02477.HK) fell 8.33% in regular trading, trading at HK$0.335/share, with turnover of HK$126 million. The stock extended its sustained retreat since June 30.

The decline represents a continuation of the sharp pullback following the company's June 29 announcement of its Novax AI platform launch. On June 30, the news initially propelled shares as high as HK$0.60, representing an intraday surge of over 30%, but the stock reversed sharply to close down 2.5% at HK$0.39 that same day. The stock has weakened consecutively since then, with an 8.97% decline on July 2 preceding the current session's losses.

Market sentiment remains cautious regarding the company's ability to commercialize its AI computing services. Additionally, major shareholder WellCell Group previously sold 576 million shares at HK$0.3445 per share, reducing its stake to approximately 2.2% and ceasing to be a major shareholder. While that disposal has been completed, investor skepticism about near-term execution persists, with shares continuing to retrace prior gains.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)