HEPS plummets 24.77% in pre-market trading on Dec 23 2025 amid retail sector volatility no clear catalyst

D-MARKET Electronic (HEPS) plummeted 24.772% in pre-market trading on December 23, 2025, marking its most significant decline in recent history and testing levels last seen in early 2025. The sharp selloff emerged amid heightened retail sector volatility, with the stock joining a broader wave of gap-down leaders showing no clear fundamental catalyst.

The decline followed a 19.45% pre-market drop to $2.65, its lowest since late 2024, as algorithmic selling pressure and short-covering dynamics intensified. Technical indicators signal conflicting signals: an overbought RSI of 87.2 suggests bearish reversal potential, while the MACD histogram shows fading bullish momentum. Investors are closely monitoring key levels, including $2.40 support and the $2.83 Bollinger upper band, as the stock approaches its 52-week low of $2.15.

Options traders are capitalizing on heightened volatility through high-gamma contracts like HEPS20260116C2.5 and HEPS20260220C2.5. The January 16 call offers 488% leverage with a 8.37% implied volatility ratio, positioning it as a short-term rebound play. Aggressive strategies target a rebound above $2.83 before initiating long-dated calls, while a 5% decline to $2.35 would render the January contract worthless.

Traders are also examining the broader context of the stock’s performance in relation to the retail sector and market sentiment, as volatility spikes and the stock reaches new multi-month lows. Position sizing and risk management remain crucial as the stock is now within striking distance of its 52-week low, and any further downside may trigger stop-loss orders and liquidity crunches.

With the stock trading at extreme levels, traders and investors alike are preparing for potential follow-through selling or short-term rebounds, depending on how the market interprets the next round of earnings and sector news. Analysts remain divided, but the technical picture is increasingly bearish as momentum indicators continue to trend downward.