Boqii's Post-Split Volatility Unleashed: Can the Pet Retailer Rebound or Is This a Structural Shift?

• Boqii Holding (BQ) undergoes a seismic 1-for-160 reverse split, triggering a -98.81% intraday price plunge to $4.65 post-adjustment
• NYSE substitution listing for Class A ordinary shares replaces ADSs, ending a dual-class structure era
• 52-week range now spans $2.40–$9.89 post-reverse split, with trading volume surging to 3.13M shares

In a historic corporate restructuring move, Boqii’s stock faces immediate volatility as structural changes reshape its market dynamics. The post-split price action tests investor confidence in its pet e-commerce platform amid sector-wide retail shifts.

Reverse Split and NYSE Relisting Trigger Structural Reset
The dramatic -98.81% price drop isn’t a collapse but a mathematical artifact of Boqii’s 1-for-160 reverse stock split. Each pre-split share converted to 1/160th of the new ordinary shares, recalibrating the price to $4.65 from $392.0 pre-split. The substitution listing replacing ADSs with direct ordinary share trading eliminates complexity for U.S. investors while addressing NYSE compliance needs. This operational restructuring aims to stabilize trading liquidity but has introduced near-term volatility as markets digest the adjustment.

Technical Crossroads: Bollinger Bands and MACD Signal Critical Levels
• MACD: 0.042458 vs Signal Line 0.006883 – bullish crossover confirmed
• RSI: 70.16 – overbought but sustainable in post-split adjustment phase
• Bollinger Bands: Price holds above lower band (1.84), with midline at 2.12 acting as key support
• Moving Averages: 30D MA (2.11) and 200D MA (1.62) form a technical battleground

Aggressive traders should focus on the $1.99–2.01 support zone (30D range) and $2.40 resistance (pre-split low). The reverse split creates a new price floor, with short-term momentum favoring buyers above $2.20. The sector leader CHWY’s -1.83% dip highlights cautious sentiment in pet retail, but Boqii’s structural changes may carve an independent path.

Options Note: No liquid contracts available in the provided chain. Monitor post-split option listings for volatility plays once liquidity emerges. Until then, technicals remain the primary guide.

Backtest Boqii Holding Stock Performance
The backtest of Boqii Holding's performance after a -99% intraday plunge shows mixed results. While the 3-day win rate is 44.50%, the 10-day win rate is 42.89%, and the 30-day win rate is 38.07%, indicating a higher probability of positive returns in the short term, the overall returns over the 3, 10, and 30 days are negative, with returns of -0.98%, -3.02%, and -7.01%, respectively. The maximum return during the backtest period was -0.19%, which occurred on day 0, suggesting that the stock did not recover fully even in the immediate aftermath of the plunge.

Watch the $2.00 Floor – Boqii’s New Era Begins Here
Boqii’s post-reverse split trajectory hinges on sustaining trading above $2.00 – the psychological anchor post-adjustment. While the NYSE relisting stabilizes its listing status, investors must now assess execution of its pet platform strategy against peers like CHWY. Short-term traders should treat the $1.99–2.01 zone as a buy-the-dip opportunity, while a breach below $1.83 would signal deeper structural concerns. The coming weeks will test whether this corporate reset unlocks value or merely masks underlying challenges in China’s competitive pet market.