Core Viewpoint - The stock price of Automobile Street (02443) has experienced significant volatility since its listing, with recent trends indicating a potential exit from the Hong Kong Stock Connect program due to its declining market capitalization [5][12]. Price Performance - Since reaching a peak of 5.11 HKD on July 18, the stock has entered a downward trend, with a recent low of 3.38 HKD observed on November 21 [1][2]. - The stock has been in a state of decline since its listing, with a drop of over 60% from its initial offering price of 10.2 HKD [1]. - Following a brief surge on October 8, where the stock price increased by 344% to 117 HKD, it has since returned to lower levels, with a significant drop of 44.44% on November 27 after a major lock-up expiration [1][5]. Technical Analysis - The stock is currently in a downward trend, with all moving averages showing a downward divergence, indicating a fundamental shift in the previous technical trend [2][3]. - The stock has entered an oversold territory, with a low profit-taking ratio of only 0.16%, suggesting a high level of trapped shares at an average price of 4.22 HKD [7][14]. Market Capitalization and Stock Connect Status - The average market capitalization of Automobile Street during the review period is 33.44 billion HKD, significantly below the 61.01 billion HKD threshold required for inclusion in the Hong Kong Stock Connect [5][6]. - The next review for the Hong Kong Stock Connect is scheduled for February 25, 2024, with a high likelihood that Automobile Street will be removed from the list due to its low market capitalization [5][6]. Trading Activity - Despite the downward trend, some investors are buying shares, with notable purchases from mainland investors through the Hong Kong Stock Connect, indicating a potential bet on a technical rebound [10][12]. - The largest buyers include China Investment (沪港通) and China Chuangying (深港通), holding 8.58% and 5.92% of the shares, respectively [10][11]. Historical Context - Historical data shows that stocks removed from the Hong Kong Stock Connect typically experience an average decline of 14.24% on the day of removal, indicating potential liquidity issues for Automobile Street if it is delisted [7][14].
汽车街(02443)进入“出通”倒计时，港股通资金逆市操作博弈短期反弹？