HuoXing Finance reports that on October 19, overseas memory stocks collectively rebounded, while ChangXin Technology weakened against the trend. According to TradingBeats monitoring, SKHX on Hyperliquid rose approximately 5.87% from midnight today, Micron (MU) increased about 4.49%, and SanDisk (SNDK) rose roughly 6.51%. Market data shows ChangXin Technology’s A-shares are currently trading at CNY 41.59, down approximately 7.62% from last Friday’s close. Additionally, the CXMT contract experienced a sharp intraday dip yesterday, touching a low of approximately $6 before recovering slightly, but weakened again today. The on-chain CXMT contract is currently priced at $6.2463, down about 2.04% from midnight today and down approximately 5.65% from today’s intraday high of $6.62. Trading volume during the same period reached approximately $12.41 million, with an open interest notional value of about $30.26 million. This price is only about 4.17% higher than the $6 level at Hyperliquid’s debut listing of the contract on July 15, and approximately 4.80% above the historical low of $5.964 recorded on July 27. Meanwhile, ChangXin Technology’s current price is down about 15.14% from its initial A-share listing closing price of CNY 49. On the news front, this decline occurred following the company’s announcement of improved earnings and a share repurchase proposal. On the evening of October 16, ChangXin Technology disclosed that it expects revenue for the first nine months of the year to range between CNY 265 billion and CNY 270 billion, with attributable net profit between CNY 131 billion and CNY 132.5 billion—marking a turnaround from losses to profitability year-over-year. Additionally, Chairman Zhu Yiming proposed repurchasing shares worth CNY 1 billion to CNY 2 billion. While overall profitability improved significantly for the first nine months, quarterly growth momentum has clearly slowed. Based on the forecast data, third-quarter attributable net profit is expected to increase by only 1.04% to 3.88% compared to the second quarter’s CNY 52.843 billion—far below the approximately 113.4% sequential growth seen in Q2. Third-quarter revenue growth is also projected to decline from around 95.9% in Q2 to between 15.25% and 20.3% sequentially. The largest long position on CXMT (0x9a8) still holds a position worth $8.86 million, currently with an unrealized loss of approximately $483,000 at an average entry price of $6.61605 and a liquidation price of $3.4415. However, during the same period, this position has accumulated funding fee income of approximately $2.7753 million.
Hyperliquid Storage Stocks Rebound, CXMT Drops 15% from IPO Price
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Summary
The Fear and Greed Index dipped slightly as Hyperliquid storage stocks rebounded on October 19, with CXMT falling 15% from its IPO price. SKHX rose 5.87%, MU climbed 4.49%, and SNDK gained 6.51%. CXMT dropped to $6.2463, down 2.04% from midnight, and is now 15.14% below its A-share IPO closing price of 49 CNY. Despite a recent earnings beat and a buyback plan, Q3 profit growth slowed compared to Q2. Altcoins to watch remain under pressure amid mixed market sentiment.
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