HK Stock Market Move | PLATT NERA(01949) fell over 23% again, with a sharp drop of over 90% at the end of the previous trading day.

PLATT NERA (01949) fell by more than 23% again, with a heavy sell-off at the end of the previous trading day, causing a sharp drop of over 90% to hit a new low. The stock price has been on the rise since October, at one point more than tripling. At the time of writing, it has dropped by 23.78% to 0.109 Hong Kong dollars, with a trading volume of 35.32 million Hong Kong dollars. In terms of news, an article titled "PLATT NERA (01949) Plunges 90% Again, Main Players Selling Off" points out that the steep decline in PLATT NERA started with major players unloading their positions. Between 15:33:45 and 15:33:48, major players sold over 30 million shares, leading to a sharp drop in the stock price. The strong uptrend since October, coupled with the sudden plunge, especially wiping out all the gains made since late October in a matter of minutes, caught retail investors off guard and buried a significant amount of their funds. This tactic resembles the pattern of "where it is pulled up from, it ends up being smashed back to." It is worth noting that since mid-October, PLATT NERA has seen frequent transfer activities totaling 149 million Hong Kong dollars. The largest transfer was from Fu Zhong Securities transferring 43.0275 million Hong Kong dollars to Changli Securities. On October 24th, Fu Zhong Securities transferred another 17.8849 million Hong Kong dollars to Changli Securities.