IFAST Corporation (AIY.SI) saw its shares plummet by 3.02% in Wednesday's trading session, continuing the downward trend that began earlier in the week. This recent decline follows a significant 8.5% drop on Tuesday, which was triggered by news of a major shareholder reducing its stake in the company.

The substantial shareholder, CP Invest, a subsidiary indirectly owned by Temasek Holdings, sold 14.35 million shares at S$9.12 per share, representing a 6.7% discount to Monday's closing price. This transaction reduced CP Invest's stake in IFAST from 9.62% to 4.9%, causing it to cease being a substantial shareholder. The news of this large stake reduction has clearly unsettled investors, leading to the continued sell-off.

Despite the recent stock price volatility, IFAST's fundamentals remain strong. The company recently reported impressive results for the first half of 2025, with net revenue up 23.7% year-on-year and net profit surging 34.7%. The company's assets under administration reached a record high of S$27.2 billion, up 21.6% from the previous year. Management expects robust growth in revenue and profitability for the full year 2025, driven by its ePension business in Hong Kong and the continued profitability of its digital bank, iFAST Global Bank. Additionally, IFAST has committed to paying out at least S$0.08 in total dividends for 2025, a 36% increase from 2024, which may provide some support for the stock price in the longer term.