Stock Track | DEEPEXI TECH Soars 5.67% Intraday on Recovery After Discounted Share Placement Selloff
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DEEPEXI TECH's stock soared 5.67% during Tuesday's intraday session, continuing its recovery rally after a recent sharp decline.
The surge follows a period of selling pressure triggered by the company's announcement of a discounted share placement. After the initial selloff, funds have gradually returned as the stock became oversold, leading to a sustained recovery above the placement price.
Approximately 70% of the placement proceeds are earmarked for overseas market expansion and localization capabilities, 20% for strategic investments and acquisitions, and 10% for supplementing working capital. This allocation is expected to provide medium-to-long-term growth support for the company.
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