Stock Track | HANS CNC Plummets 5.12% Intraday Amid Morgan Stanley Stake Reduction and Profit-Taking
Stock Track
May 28
HANS CNC's stock plummeted 5.12% during intraday trading, extending its recent decline as selling pressure persists.
The drop follows Hong Kong Exchange disclosure data showing that Morgan Stanley reduced its holdings in the company, which has weighed on sentiment over several trading sessions. Additionally, the stock had rallied significantly on expectations for AI computing power-driven PCB equipment, leading to substantial profit-taking pressure.
These factors combined to suppress market sentiment despite the company reporting strong Q1 financial results with revenue growth of 104% year-over-year and net profit surging 177%.
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