Biwin and Moore Threads shares fall over 10% despite strong Q3 revenue
Overview
Shares of Biwin Storage Technology and Moore Threads each fell more than 10% in Shanghai trading on Thursday, reversing Wednesday's gains of 8.4% and 5.8%, the South China Morning Post reports.
Both companies reported strong third-quarter revenue driven by AI demand, but the report says the share drop came amid a broader rout in mainland tech stocks, with the Star 50 index down more than 4%.
Written by AI from the articles below · updated Oct 29, 2:16 AM ET
Check the sources:
Article timeline
The articles in this story. Times are ET.
- South China Morning Post · TechNewsBiwin and Moore Threads shares plunge over 10% despite strong third-quarter revenue
AIShares of Biwin Storage Technology and Moore Threads each fell more than 10% in Shanghai trading on Thursday, reversing Wednesday's gains of 8.4% and 5.8%. The drop came amid a broader rout in mainland tech stocks, with the Star 50 index down more than 4%, even though both companies reported blockbuster third-quarter revenue driven by AI demand.
Heat Trend
Not enough continuous observations to show a trend yet.