Chinese GPU maker Moore Threads (688795.SH) fell to the 20% intraday limit on Sept. 7, pushing its market capitalization below 200 billion yuan. The move came on the same day that 25.7745 million shares from its IPO offline placement lockup became eligible for trading, according to a company announcement.
Yicai contacted the company’s securities affairs representative by phone while posing as an investor. A staff member said the session coincided with a large unlock day for offline placement restricted shares and asked investors to view the situation rationally. The staff member also said the company’s fundamentals remain normal.
The report was cited by ChainCatcher in a 7x24 news update.
ChainCatcher reported on Sept. 7 that Chinese GPU maker Moore Threads (688795.SH) hit the 20% intraday limit down, with its market capitalization falling below 200 billion yuan.
According to the company’s announcement, 25.7745 million shares from its initial public offering offline placement lockup became tradable that day. Yicai called Moore Threads’ securities affairs representative line while posing as an investor. A staff member said it was a day with a large-scale unlock of offline placement restricted shares, asked investors to view the move rationally, and said the company’s fundamentals remain normal.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
