The Hong Kong stock market has been dominated by a demon stock these days, $UBTECH ROBOTICS(09880)$
The characteristics of this stock that caused the frenzy are:
It was just listed not long ago, and the lock-up period has not yet expired. It was listed on December 29, 2023.
The issuance proportion is extremely low, with a market value of 10.6 billion HKD, and it only issued 2.7% of the shares, raising just over 1 billion HKD.
The proportion of cornerstone investors (institutions) is high, accounting for 53%, more than half, with 37% for international allocation and 10% for public offering.
The float is less than 500 million shares, and it cannot be ruled out that international allocation is also acting in unison.
Concepts such as AI and robotics are scarce in the Hong Kong stock market, and it happens to hit the hot spot of "humanoid robots," considered as the "leader."
Mainland Chinese capital and speculative foreign funds are pouring in wildly, creating a huge amount of wealth.
However, the problem is that companies relying on insufficient liquidity to drive up prices often end up in a mess.
For example, the fitness concept stock $KEEP(03650)$
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