Core reasons for the decline of Deep Technology (01384)
Sharp correction after a surge, April 10-16: Soared from around HKD 30 to HKD 81.95, a 173% gain in 5 days, representing an oversold rebound + speculative capital, with valuation rapidly becoming frothy.
From April 17 to present: Declined for the 5th consecutive trading day, representing concentrated profit-taking and bubble bursting.
Data for the day: Turnover rate 3.23%, trading volume 10.5422 million shares, turnover HKD 644 million, indicating obvious capital flight.
The sharp drop on April 23 was the combined result of a natural correction after the previous surge + concentrated selling + underlying concerns + weakening sector sentiment, with no sudden negative news on the day.$DEEPEXI TECH(01384.HK)
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