Hong Kong’s large-model stock segment stayed under pressure on the morning of Oct. 22, with both MiniMax and Zhipu trading lower. According to market data cited by Techub News, MINIMAX-W (00100.HK) fell 6.34% intraday to HK$161 and touched a low of HK$159.5, slipping below its HK$165 IPO price from its January listing this year. Zhipu (02513.HK) dropped 8.23% intraday to HK$455.2.
Both stocks had previously posted sharp rallies earlier this year. Zhipu hit an all-time intraday high of HK$2,980 on June 22, while MiniMax reached HK$1,330 at its peak. Based on current prices, the two names are now down about 84.5% and 87.8%, respectively, from those highs. Even so, Zhipu still trades at roughly four times its IPO price of HK$116.2, while MiniMax has fallen below issue price.
Hong Kong’s large-model stock segment extended its decline on the morning of Oct. 22, according to Techub News.
MiniMax drops below issue price, Zhipu also falls
Market data showed that MINIMAX-W (00100.HK) fell 6.34% intraday to HK$161, with the stock touching a low of HK$159.5. That moved it below its HK$165 IPO price from its January listing this year. Zhipu (02513.HK) was down 8.23% intraday at HK$455.2.
Both names remain far below their highs
Both companies had surged sharply earlier this year. Zhipu reached an all-time intraday high of HK$2,980 on June 22, while MiniMax climbed as high as HK$1,330. Based on current prices, the two stocks are down about 84.5% and 87.8%, respectively, from those peaks.
Zhipu’s current price is still about four times its IPO price of HK$116.2, while MiniMax is now trading below its offer price.
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