In this round of “tech A-stock killing,” there’s another online celebrity-style speculative trader who lost nearly $600 million (600M) in a single trade.

This Shandong trader is called “Xin Duoduo.” By showing off large shareholding positions, he captured several hundred thousand followers. A few days ago, he posted a screenshot of his shareholding showing a single-month loss of $560 million (560M), which spread across the whole internet for a while.
As a big-shot among speculative traders, Xin Duoduo kept going long on tech stocks throughout the first half of the year. His frequent trading not only didn’t make money—it piled up losses.
According to incomplete statistics, in May Xin Duoduo traded tech stocks such as GuoSheng Technology (国晟科技) and lost $766 million (766M); June was a bit better—he recovered $200 million (2 个亿). In July, he chased news-driven hype around Fenghua Hi-Tech (风华高科), betting on an MLCC price increase and its cooperation with NVIDIA. After the claims were denied, and after a series of consecutive plunges, he kept adding to average down the cost and got trapped—then lost another $560 million (560M).
The above loss figures are based on the maximum drawdown amounts. Some of those positions will surely rebound partially—his peak managed capital was as high as $1.5 billion (1.5B), but now it’s basically halved.
A speculative trading “big boss” controlling more than ten billion in capital has superior financial strength, better sources of information, and more trading experience than retail investors—but in this year’s tech bull market, he still racked up losses. For ordinary mom-and-pop novices who blindly YOLO into tech stocks with their eyes closed, how could they not be wiped out? It really matches one saying: a bull market is when ordinary people lose big money.
In June, I kept warning about the risks of tech stocks while prices were still high. In the comment section, there were always people mocking me for missing the move, saying I was bearish on tech. Now that those people open their accounts, they probably wouldn’t dare to speak.
In the stock market, always remember this: after a surge, there must be a plunge. If you didn’t get to enjoy the surge, there’s no need to go to the high end to eat the plunge. Remember this line—it can save your life. #直通IPO第二期JerseyMikes