Just took a look at the chart for $MINIMAX —it's green again, down -11% to 37.95, and even touched a low of 36.67.
Honestly, this move isn’t too surprising. Recently, Hong Kong’s AI sector has been suffocated by US Treasury yields—especially the 10-year, which keeps creeping higher. Growth stock valuations have been discounted directly. On top of that, the stronger US dollar has pulled foreign capital back, so pure-play AI names like MiniMax have basically become a cash machine; a trading value of 26.9M simply can’t withstand the selling pressure.
But look at it from another angle—the money behind the AI narrative hasn’t really gone far; it’s waiting to board at lower levels. Right now, the market cap of $MINIMAX prices its model capability—not cheap, but not crazy either. The key is that the market is re-pricing the AI monetization cycle.
If the short-term low at 36.7 breaks, the next support zone is around 34–35. Overall, this pullback looks more like macro-driven compression than a deterioration in fundamentals. When US Treasury yields top out, the AI sector should rebound first.
Honestly, this move isn’t too surprising. Recently, Hong Kong’s AI sector has been suffocated by US Treasury yields—especially the 10-year, which keeps creeping higher. Growth stock valuations have been discounted directly. On top of that, the stronger US dollar has pulled foreign capital back, so pure-play AI names like MiniMax have basically become a cash machine; a trading value of 26.9M simply can’t withstand the selling pressure.
But look at it from another angle—the money behind the AI narrative hasn’t really gone far; it’s waiting to board at lower levels. Right now, the market cap of $MINIMAX prices its model capability—not cheap, but not crazy either. The key is that the market is re-pricing the AI monetization cycle.
If the short-term low at 36.7 breaks, the next support zone is around 34–35. Overall, this pullback looks more like macro-driven compression than a deterioration in fundamentals. When US Treasury yields top out, the AI sector should rebound first.