CXMT (Changxin Technology) began trading on July 27 (Monday), and the bulls-bears split exploded

The target share price given by investment banks reached $17.13, valuing the company at about $1.15 trillion (7.76 trillion yuan). Real-money players even saw the lowest share price at $2.
Hyperliquid’s largest on-chain short: bearish to $2–$4.5
On the first day of trading, the address with the largest contract open position on Hyperliquid for Changxin Technology continued adding to its short position. Its current position size has reached $17.26 million, with an average opening short price of $6.4 (about RMB 43).
Just now, he placed a closing order at $2–$4.5 (about RMB 13–30).
Nomura Securities: target share price $17.13 (about RMB 116), market cap seen at about $1.15 trillion (7.76 trillion yuan).
On the same day, Nomura Securities initiated coverage of CXMT (Changxin Technology), giving a Buy rating with a target price of $17.13 (about RMB 116).
At a corresponding 20x P/E ratio, this is twice Micron’s valuation.
Based on the IPO price of $1.28 (RMB 8.66), the upside is 1239%, implying a market cap of about $1.15 trillion (7.76 trillion yuan).
One side sees $2, while the other side sees $17.13.
With the same underlying asset, completely different storylines. Bulls vs. bears—the showdown has just begun.
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