Boqii Holding Limited (NYSE:BQ) Stock Continues to Slump: But Why?
The stock of the animal health and wellness Boqii Holding Limited (NYSE: BQ) has been in a bit of a rut over the course of the past week. Yesterday, the stock continued to move in a similar vein and went down by as much as 17%.
That took its losses for the past week to 32%. There has been no fresh news about the company in the past week but that does not seem to have had any effect on the selloff in the Better Choice Company stock. The last major news in relation to Better Choice Company emerged back on July 6 when it was announced that Boqii Holding Limited made a strategic investment in the company.
Boqii Holding Limited is not only known for running the biggest pet focussed platform in China but it is also a retail partner of Better Choice Company. Hence, the investment could prove to be a significant one for Better Choice in the long run. That being said, it does not seem that it has had much of an effect on the investors and the slide in the past week has been an illustration of the state of affairs. It remains to be seen it the stock can manage to make a recovery in the coming days.
Market Reaction:
On Tuesday, BQ stock slumped 17% at $2.80 with more than 940k shares, compared to its average volume of 250k shares. The stock has moved within a range of $2.7100 – 3.2800 after opening the trade at $3.25. Over the past 52-week, the stock has been trading within a range of $2.7100 – 12.8400.
