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BLACK SESAME Plunges 48% After It Clarifies LT Co-op w/ OEMs Like BYD COMPANY Is Daily Biz
Recommend 37 Positive 50 Negative 48 |
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Following a surge of 37.6% at the close of last Friday (7th), BLACK SESAME (02533.HK) opened 14.95% lower before its decline expanded sharply in the early session today (10th), and bottomed at $19.04. The broker last printed at $20, plummeting 48.45%, with 8.917 million shares traded, involving $194 million. BLACK SESAME once leapfrogged over 55% during the intraday trading session on last Friday (7th), breaking ceiling and peaking at $43.85. It is expected that BYD COMPANY (01211.HK)'s smart driving solution known as "God's Eye" will adopt BLACK SESAME's automotive-grade self-driving computing chips. However, BLACK SESAME later issued an announcement clarifying that it has long-term collaboration with China’s leading automotive original equipment manufacturers (OEMs), such as BYD COMPANY, which is in the ordinary and usual course of business of the Group. There is no material change in respect of such collaboration which needs to be disclosed under the Listing Rules. AAStocks Financial News |
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