Agreed that this kind of stock price movement happens...

Agreed that this kind of stock price movement happens frequently, depending on market expectations. What I’m focusing on more is the fact that the share price has been bouncing up and down with quite a large intraday gap - not just at result releases, but also on other normal trading days with no apparent reason, no news, no announcements whatsoever. I didn’t expect this from a company operating in a market with steady year-over-year growth. It seems to me that the market either hasn’t figured out or realized the value, or there are concerns and risks they foresee. In that case, it might be better to buy at a much lower price, but even after the fall, a ~28x PE still seems quite pricey for my risk-return. Personally, I don’t think I can stomach that risk.

Of course, that's just my observation. I could be wrong, as many of you have pointed out.