ME News reported that on May 29 (UTC+8), Zhipu, the leading stock in the large model concept on the Hong Kong stock market, experienced extreme volatility, surging more than 23% at one point to a high of HK$1,993, setting a new all-time high since its listing. However, the stock then rapidly reversed course, turning from a sharp gain into a decline. Analysis of trading volume suggests that significant capital exited positions after Zhipu reached its new high, resulting in pronounced price fluctuations. To date, Zhipu remains one of the highest-market-cap companies in Hong Kong’s AI sector. This year, Zhipu has repeatedly seen single-day rallies exceeding 20%, and even 30%, alongside sudden intraday pullbacks. At the end of April, the stock plunged over 13% in the afternoon before recovering some losses. Currently, AI-themed stocks generally exhibit high retail investor participation and relatively limited institutional holdings, making them prone to rapid surges followed by sharp declines amid concentrated speculative interest in popular themes. (Source: ODAILY)
Zhipu AI stock experiences extreme volatility amid profit-taking.
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Summary
Zhipu AI's stock experienced sharp market volatility on May 29 (UTC+8), surging more than 23% to HKD 1,993 before a steep reversal. Analysts attribute the move to profit-taking after the stock reached a new high. This year, the stock has exhibited frequent volatility, with single-day swings exceeding 20% or 30% followed by rapid declines. A similar pattern occurred in late April, featuring a brief 13% drop before a recovery. High retail investor participation and low institutional ownership in Hong Kong’s AI sector contribute to market volatility amid concentrated trading activity.
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