This latest run in Chinese AI models has been absolutely crushed.
Bloomberg reports that MiniMax and $ZHIPU have shed a combined $150 billion in market value from their peaks.
MiniMax has been hit hardest: in March, it was still 650% above its IPO price, but now it’s fallen below it.
$ZHIPU has also plunged 81% from its June peak.
In this market, anyone who chases the rally gets left holding the bag.
Bloomberg reports that MiniMax and $ZHIPU have shed a combined $150 billion in market value from their peaks.
MiniMax has been hit hardest: in March, it was still 650% above its IPO price, but now it’s fallen below it.
$ZHIPU has also plunged 81% from its June peak.
In this market, anyone who chases the rally gets left holding the bag.