EAST BUY Fails to Keep Last Day's Upswing, Down ~6%

　　After its rally of 4% yesterday, EAST BUY (01797.HK) -0.620 (-6.250%) Short selling $15.29M; Ratio 13.282% was under selling pressure again today, bottoming at $9.3. It last printed at $9.33, down 5.95%, on volume of 10.5089 million shares and turnover of $100 million.

　　After the departure of its star anchor Dong Yuhui, EAST BUY's chairman Yu Minhong said there is still a possibility of cooperation with Dong in the future.

　　Related NewsCiti: EAST BUY Reduces Reliance on Star Anchors & Focuses on Realising Sustainable Value Creation From its Own Products

　　According to a recent Daiwa report, Dong's departure is expected to inflict a 2%-4% drop in New Oriental's revenue for FY25 and a 5%-7% negative impact in its earnings, which are still manageable since its core business has operational leverage to offset the abovementioned impact.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-30 12:25.)

　　AAStocks Financial News