Up more than 471% at the open! Changxin Technology tops the A-share market as the new “stock king”—now is it time to short?

China’s storage leader Changxin Technology today made its debut on the STAR Market, delivering a legendary surge right out of the gate!
The issue price was only 8.66 yuan; at the open it jumped 471.59% straight away. The current price is 46.99 yuan, and the paper profit for a single-subscriber allocation is over 20k yuan.
Its total market cap at the open surged to 3.14 trillion yuan, crushing ICBC, and it grabbed the No. 1 spot for market value in A-shares, becoming the latest stock king.
What’s interesting is that its pre-market off-exchange pricing was $7, which is basically in line with the valuation implied by its current A-share price. In just one day, it’s already up 5.4x from the IPO issue price—everywhere is celebrating wildly.
On one side, it’s an AI compute-demand-driven “must-have” and a scarce domestic storage leader, with projected profit of 50 billion yuan+ over the next half year—logic for a performance surge is fully priced in;
On the other side, it outright discounts several years’ worth of cyclical optimism at the open. DRAM is also a classic strong-cycle industry—once the hype fades, valuation can easily fall back, and the divergence between bulls and bears is fully amplified.
Now the whole internet is in an uproar: some see a long-term uptrend for AI storage and target a market cap of 4 trillion yuan; others think the bubble is severe in the short term and that the spike is a chance to short.
Do you think Changxin can keep running higher afterward, or is it better to set up short positions at these high levels right now?
Chat in the comments about your take! Tap ❤️ and repost to get more people discussing!
⚠️Only market information interpretation—the new stock’s volatility is extremely high and this does not constitute any long/short trading advice!