July 7—No one talks about guaranteed big profits from lottery draws anymore, and nobody mentions hot sectors. The group chat is eerily quiet.

Everyone has come to face the harsh reality. They no longer dream of getting rich overnight. They have gone back to their old ways, honestly earning a living.

Those who were determined to quit their jobs and speculate full-time on new listings have quietly withdrawn their resignation letters and obediently clock in at work, accepting their fate. The trendy moms who jumped on the bandwagon chanting catchphrases have stopped fantasizing about riding the next wave. A bunch of university students have also realized that Hong Kong stocks are not easy money, and are now seriously looking for summer part-time jobs.

No one brags anymore about how easy it is to make money from Hong Kong IPO subscriptions. A restless greed has been severely punished by the market. All illusions have shattered, the excitement has completely died down. Everyone has put away their wishful thinking, settled down to live their lives, and focus on making a living.