VGT dives 6% as company clarifies normal operations after rumors

VGT (02476.HK) plunged 7.65% to HKD 336 before recovering to HKD 345.2, down 6.35%, after dismissing online rumors as unrelated to operations.

"Production and business operations are currently fully normal, with ample orders on hand, and all work is progressing in an orderly manner," VGT said in a statement. The company added that the circulated videos and related information do not involve corporate governance, internal controls, or any material information requiring disclosure, and will not affect daily operations.

The stock opened 7.65% lower and touched an intraday low of HKD 336. Turnover reached 3.7 million shares valued at HKD 1.28 billion, well above typical daily volume, as traders rushed to sell on the unverified claims. The clarification stemmed further losses but failed to erase the decline, with shares still down 6.2% in afternoon trading.

The episode shows how Hong Kong-listed stocks remain vulnerable to unverified information spreading on social media, even when companies quickly rebut the claims. With VGT confirming normal operations and ample orders, the stock's trajectory will depend on whether the rumors dissipate or gain further traction in the coming sessions.

This article is for informational purposes only and does not constitute investment advice.