Why MINISO Group Holding Limited (MNSO) Crashed On Friday

We recently published a list of 10 Firms That Led Bloodbath Today. In this article, we are going to take a look at where MINISO Group Holding Limited (NYSE:MNSO) stands against other Friday’s worst-performing stocks.

Miniso Group saw its share prices nosedive by 17.58 percent on Friday to finish at $18.29 apiece following a disappointing earnings performance in the first quarter of the year.

In its financial statement, MINISO Group Holding Limited (NYSE:MNSO) said net income attributable to shareholders declined by 28 percent to 416 million yuan from the 582 million yuan registered in the same period last year.

Revenues, on the other hand, increased by 18.9 percent to 4.4 billion yuan from the 3.7 billion yuan reported in the same period last year, on the back of a 9.1 percent revenue growth in Miniso mainland China.

A close-up of a product showcasing the company’s retail range of lifestyle items.

Looking ahead, MINISO Group Holding Limited (NYSE:MNSO) said it entered 2025 facing an increasingly volatile market environment, but promised to stay resilient and agile to deliver long-term profitable growth.

“We are forging more holistic collaborations with our overseas partners to enhance synergies, upgrade store formats to improve operational efficiency and unlock potential in store opening space,” it said.

Overall, MNSO ranks 2nd on our list of Friday’s worst-performing stocks. While we acknowledge the potential of MNSO, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than MNSO and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.