Stock Track | MINIMAX-WP Plummets 10.32% Intraday on A-Share IPO Concerns, Lock-Up Expiry, and Sector Weakness

Stock Track06-05 09:51

MINIMAX-WP's stock plummeted 10.32% during intraday trading on Friday, reflecting heightened investor concerns over the company's strategic moves and financial health.

The sharp decline is attributed to negative market reaction to MiniMax's plan to pursue an A-share listing on the Shanghai STAR Market, shortly after its Hong Kong debut. Additionally, worries are mounting over the upcoming expiry of post-IPO lock-up periods in early July, which could lead to significant selling pressure given the currently limited free float.

Fundamentally, the company's deep losses—with an adjusted net loss of USD 251 million on revenue of USD 79.04 million—and broader weakness in the AI large model sector further contributed to the bearish sentiment, as seen in peer declines.

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