Miniso Group Holding Ltd Adr (MNSO)

Shares of MINISO Group Holding Ltd ADR (MNSO) dropped by 14.36% from $24.24 to $20.76 in the trading on Monday, December 04, 2023. The reason why MNSO is down today is due to proposed sales of securities and retail sector perfomance.

• Proposed Sales of Securities: The drop in MNSO's stock price is partly due to the announcement of proposed sales of securities by existing shareholders, as reported in their 144 filings with the U.S. Securities and Exchange Commission (SEC).
• Retail Sector Performance: Furthermore, the retail sector, to which MINISO Group belongs, has underperformed the broader market this year, as indicated by an analysis from Zacks Investment Research. This broader sector trend has contributed to the decline in MNSO's share price.

MINISO Group Holding Limited (MNSO) dropped by 5.03% to $28.15 due to the announcement that the company has introduced a new "2023 Share Repurchase Program," allowing them to buy back up to US$200 million worth of their outstanding shares over 12 months, beginning September 15, 2023, using surplus cash.

https://finance.yahoo.com/news/miniso-announces-us-200-million-091500276.html