This is how market reacts based on analyst reports. Very often they will short sell whenever they received bad review. They don't have time to go through every analyst reports. They usually missed out a lot of things. When this happens, some of us sees this has an opportunity to acquire shares at cheaper price and make some money. Let me give you several examples.
There are market expectations. They get their numbers from local investment banks. Local investment banks compared theirs with Bloomberg. Bloomberg has set certain numbers e.g. revenue & EPS growth y-o-y. UEM Sunrise missed their expectations. But at the same time, they especially Investment Banks and their financial analysis or CFA, knew UEM Sunrise sales and launches has picked up since last August. They also believe UEM Sunrise will improve its earnings and sales from property development & land sales segment in coming quarters. We can see that in 3QFY24 recently compared with 1QFY24 and 2QFY24.
They also confirmed that UEM Sunrise is on course to exceed its new sales target of MYR1.0 bil for this year. And they also give some assurance that UEM Sunrise unbilled sales of MYR2.9bil is good. This will provide UEM Sunrise some idea how their revenue and cashflow going to be for the next 18 to 36 months. They know UEM Sunrise financial position remains solid.
Those short sellers will soon covering their shorts and start buying again UEM Sunrise.

Fu*k 'em all!!

PS They didn't not take into consideration on Johore - Singapore Economic Zone