Meitu Inc (1357.HK) shares plummeted 12.12% in Tuesday's trading session, following the disclosure that a substantial shareholder disposed of a significant number of shares in the company.
According to a brief company announcement, a substantial shareholder of Meitu sold a total of 128 million shares between February 17 and February 21. The share disposal appears to have triggered concerns among investors, leading to a steep decline in Meitu's stock price.
While the exact reasons for the substantial shareholder's share sale were not disclosed, large-scale insider selling often raises questions about the company's prospects and can negatively impact investor sentiment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.