According to a recent CLSA report, EAST BUY (01797.HK) -2.900 (-23.387%) Short selling $235.13M; Ratio 26.327% announced earlier that Dong Yuhui decided to leave his role as an employee of the company. CLSA expects the financials and valuation impact of this to be at worst case around 5-7% for New Oriental Education (EDU.US) .
On sentiment, the broker is unsurprised to see some near-term selling pressure on New Oriental Education due to this incident, as Dong is part of the senior management in EAST BUY and a famous celebrity in China.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
