Understanding the Market | GIANT BIOGENE continued to decline nearly 3%, plummeting over 15% yesterday, with Citigroup pointing out its weak start on Double 11
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GIANT BIOGENE's stock price opened high and then fell today, with an afternoon decline expanding nearly 3%. Yesterday, it plummeted over 15%, hitting a new low of HKD 40.6 in over a year. Citigroup's research report pointed out that the market's reaction to its weak Double 11 kickoff was excessive, as promotional strategies affected price attractiveness. Citigroup predicts that GIANT BIOGENE's performance will be weak in the third quarter and early October this year, expecting a year-on-year revenue growth of 16% in the second half of the year. The "Buy" rating is maintained, with the target price lowered from HKD 69.4 to HKD 55.4
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