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MEITUAN-W Once Cascades 5% to Log 2+ Mths Low on Core Local Biz Structure Revamp
Recommend 24 Positive 26 Negative 21 |
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Heavy-weighting stock MEITUAN-W (03690.HK) opened 1.45% lower today (5th) before its decline gradually widened. The stock once cascaded nearly 5% to a low of $157, logging an over-2-month low, and last cratered 4.42% to $157.9. The trading volume was 36.9684 million shares, involving $5.904 billion. MEITUAN-W's core local business unit issued an internal email announcing a new round of organizational overhaul to better implement the "Retail + Technology" strategy and continuously enhance organizational capabilities, as reported by Chinese media earlier today. Of which, the original to-home R&D platform, to-store R&D platform, and Meituan platform technology department under the core local business will be integrated and upgraded into the business R&D platform. AAStocks Financial News |
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