$So-Young(SY.US) rose 10%, but the trading volume was only one-third of the usual – a low-volume pump, the classic script for a small-cap medical aesthetics stock.
$Direxion S&P Biotech Bull 3X(LABU.US) edged up slightly, $PEGBIO CO-B(02565.HK) edged down slightly. The overall pharmaceutical sector was sluggish, with only $So-Young(SY.US) dancing alone. In the Q1 earnings report, the medical aesthetic center business grew 185% year-on-year. The story is real, but a rise without volume can easily fall back without volume at any time.
How much do you believe in the recovery of light medical aesthetics? I believe half of it – the average customer spending is decreasing, customer traffic is increasing. The business is becoming more mass-market, but also thinner in terms of profit margins.
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