Instead, I think most institutional locked holders have already shorted it heavily since the IPO. I’m not bearish when the locked shares start releasing tomorrow, given yesterday’s great ER.
From pre-IPO access to tokenized stocks, Binance is bridging TradFi and crypto like never before.
@_RichardTeng, Co-CEO of Binance, explains what's driving this convergence, straight from last week's 𝕏 Space ↓
Chinese memory chipmaker ChangXin Memory Technologies (CXMT) surged 465.82 percent to 49 yuan (7.22 USD) on its Shanghai STAR Market debut Monday from its IPO price of 8.66 yuan. It closed with a market capitalization exceeding 3.2 trillion yuan, becoming the largest A-share company by market value. The listing is expected to raise more than 66 billion yuan, the largest IPO in the history of China's sci-tech innovation board. Read more:
Wow, $CMXT is up a very normal +469.98% after going public today.
Now valuing it at ~$487.31 billion, up from $85.5 billion.
Did any of my Chinese followers buy into the IPO?