GIGADEVICE is trading at HK$635.00 (-14.48%) today, extending a sharp selloff observed since July 10.
- The decline is attributed to preemptive selling ahead of the expiry of lock-up restrictions on 14.39 million cornerstone investor shares, which become eligible for trading today, July 13.
- This selloff contrasts with the company's recent upbeat outlook, projecting a 1,099% year-on-year increase in first-half net profit.