$TRANSTHERA-B(02617.HK) has rebounded by almost 40%, but this can only be viewed against the backdrop of it having fallen over 60% in the previous two trading days — the lifting of restrictions on 6/22 led to selling pressure from 3.8 billion newly tradable shares crushing the stock price, with a single-day drop of -59.71% on 6/23, and another -11% on 6/24.
The rebound on the 26th was more of a technical recovery after floating shares changed hands, not a fundamental inflection point. The market cap has evaporated about 98% from its previous high.
Those bottom-fishing are betting on sentiment recovery, while those getting out think the selling pressure from the unlocked shares is far from digested. Which narrative should we believe? 🥲
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
