$Chagee(CHA.US)🍠 Analysis for reference only: "Heard the book quality isn't great, investors are still worried about delisting risks, so long-term order amounts are relatively small. Looking at the allocation structure, a large portion went to the boss's friends and family, hence the heavy selling pressure last night. A friend from the investment bank project team suggested that 31-32 is strong support, and below 30 is a no-brainer buy. Last night's turnover rate was close to 100%, basically all retail investors sold, and friends and family also sold a big chunk. Personally planning to see if there's a chance to buy some at 30-31 next Monday."