Vistory

The rules for new Chinese stocks are that there’s no daily price limit for the first five days, so the first five days can be highly volatile. Also, this is China’s first technology blue-chip leader—so it will be maintained and won’t see a big drop. I’m sure that over the course of a week it will only go up, not down.

China’s biggest memory chip maker listed in Shanghai this morning and opened up 470%
Priced at 8.66 yuan it opened at 49.50. The marketcap went from $ICBCbillion to $HYPE billion in minutes
It’s now the most valuable listed company in China, past ICBC
9.4 million retail accounts applied for 7.07 trillion yuan of stock. The allocation rate was 0.47%
To fund those applications people sold everything else. The STAR 50 index fell nearly 20% from its July peak while the cash sat frozen waiting for allocation.
Foreigners couldn’t buy any of it as the STAR Market requires 500,000 yuan in assets and a