Stock Track | YOFC Plummets 6.57% in Pre-Market as Profit-Taking Continues After China Mobile Procurement Rally

Stock Track

Jul 13

Yangtze Optical Fibre and Cable (YOFC) stock plummeted 6.57% in pre-market trading, extending the selling pressure from the previous session.

The decline follows a dramatic intraday reversal in the prior trading session, where the stock initially surged on news of China Mobile's massive fiber optic cable procurement announcement with ceiling prices significantly exceeding market expectations. However, the rally was short-lived as the stock reversed sharply with aggressive profit-taking by holders at elevated levels, indicated by extraordinary trading volume.

Separately, the third-largest shareholder Yangtze Communication completed its planned reduction of shares between April and July, adding to the selling pressure. Despite the current decline, Nomura maintains its buy rating on YOFC with a target price significantly above current levels, citing expectations that China Mobile's bidding prices will rise given recent fiber price increases.

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However, the rally was short-lived as the stock reversed sharply with aggressive profit-taking by holders at elevated levels, indicated by extraordinary trading volume.</p><p>Separately, the third-largest shareholder Yangtze Communication completed its planned reduction of shares between April and July, adding to the selling pressure. Despite the current decline, Nomura maintains its buy rating on YOFC with a target price significantly above current levels, citing expectations that China Mobile's bidding prices will rise given recent fiber price increases.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"06869","symbol_name":"长飞光纤光缆","start_time":0,"source_url":"","article_id":"1156195325","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156195325","pubTimestamp":1783906614,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Yangtze Optical Fibre and Cable (YOFC) stock plummeted 6.57% in pre-market trading, extending the selling pressure from the previous session.The decline follows a dramatic intraday reversal in the...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"06869":"长飞光纤光缆"},"translate_title":"股票追踪|长飞电机盘前暴跌6.57%，中国移动采购反弹后获利回吐仍在继续","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"06869":1},"content_text":"Yangtze Optical Fibre and Cable (YOFC) stock plummeted 6.57% in pre-market trading, extending the selling pressure from the previous session.The decline follows a dramatic intraday reversal in the prior trading session, where the stock initially surged on news of China Mobile's massive fiber optic cable procurement announcement with ceiling prices significantly exceeding market expectations. 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