After surging sevenfold, MiniMax stock price drops below IPO offering price
MiniMax fell more than 7% in today's Hong Kong stock market trading, dropping below its IPO price of HK$165 and losing over 80% of its market value from the March high of HK$1,330. The company faces a profitability crisis amid pressure from DeepSeek's low-cost models and OpenAI's price cuts.
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