MANYCORE TECH's stock experienced a sharp intraday plummet of 5.52% on Wednesday, driven by significant selling pressure.

The decline is primarily attributed to sustained dilution pressure following the company's full exercise of its over-allotment option, which resulted in the issuance of 24.0925 million new shares. This increase in share supply has weighed heavily on the stock price.

Furthermore, the downward movement was exacerbated by profit-taking activity from investors, creating intensified short-term selling pressure in the market during the session.