NEXCHIP's stock price plummeted 5.11% during intraday trading on Friday, continuing its downward trend since its recent initial public offering.
The decline was driven by broad-based selling pressure across the semiconductor sector, with several major industry players also experiencing significant losses. Additionally, large-scale position transfers totaling hundreds of millions of Hong Kong dollars in the days preceding the movement have intensified short-term selling pressure on the stock.
Market sentiment has been further weighed down by the stock's failure to sustain its opening-day gains, having now declined approximately 8.7% from its IPO price despite an initial surge on its debut.
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