Minimax Making Things Worse


Hong Kong Stock Connect hasn't entered yet, and the bagholders haven't arrived.
The bigger problem is on July 9:
Cornerstone investors' lock-up expires
A large number of pre-IPO VC and PE old shareholders' lock-up expires
A total of nearly 50% of the total share capital will be released.
Currently, the circulating shares are only 5.44%, and after the lock-up expires, it will directly expand to over 50%.
The supply will increase nearly tenfold.
Without new funds coming in, the old chips are about to be dumped.
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