|Day's Range||12.81 - 13.18|
|52 Week Range||8.33 - 15.17|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The shares of Great Wall Motor (2333.HK) have rallied in recent weeks on optimism its new H6 and Wey SUV brands will boost the Chinese car maker's earnings. Bernstein, however, remains bearish on the stock as it says none the structural challenges Great Wall Motor faces have gone away. In particular, the broker expects sales of the Wey brand to disappoint despite bullish expectations: Great Wall launched its new higher-end brand to much fanfare at the recent Shanghai auto show, and hopes that the company could compete in the RMB150k+ segment has represented a key driver of renewed optimism around Great Wall, judging by our conversations with investors.
Are the bulls right? It comes down to one new line.
Short selling can be a tough business, as those betting on declines in Hong Kong’s equity market are finding out.