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KE Holdings Inc (BEKE) stock is sliding down in the pre-market on Thursday after the latest developments

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KE Holdings Inc. (BEKE) shares were plunging 10.6% to trade at $44.93 in premarket on Thursday, May 20, 2021, as of this writing.  BEKE shares have moved up by 1.47% in the past week. Over the past three months, the stock has lost 21.82%, while over the past six months, it has shed 31.67.

KE Holdings founder passed away

KE Holdings Inc announced with profound sadness that Mr. Zuo Hui, the founder, and chairman of the board of directors of the company, passed away on May 20, 2021, due to an unexpected worsening of illness.

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The directors and employees of the Company are saddened by the passing of Mr. ZUO. They extend their deepest condolences to Mr. ZUO’s family.

Financial result announcement

On May 20, 2021, KE Holdings Inc released its unaudited financial results for the first quarter ended March 31, 2021.

Q1 2021financial highlights

 Q4 & FY-2020 financial results announcement

On March 16, 2021, KE Holdings announced its unaudited financial results for the fourth quarter and the fiscal year ended December 31, 2020.

FY-2020 financial highlights

Conclusion

The BEKE pre-market loss on Thursday does not make any sense because the company just announced its financial results which are not bad at all if we compare them with the same quarter in 2020. BEKE stock price may be declining due to the sudden demise id its founder.

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