---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41542874.md"
description: "The "tail end of the rally" in investing is too painful.Zhipu's inclusion in the Hang Seng Tech Index: Announced on May 22nd to be officially included on June 8th, the stock price surged from HKD 116 since listing to HKD 1993, with expectations fully priced in. On May 29th (Friday afternoon, one week before inclusion), it suddenly plummeted, dropping HKD 500 in half an hour, and continued to fall on the inclusion day. To date, it has retreated 35% from its high, with market value evaporating over 60 billion. Good news realized immediately became an exit for selling.SpaceX IPO: Listed on Nasdaq on June 12th, raising $75 billion with a valuation of $1.77 trillion, the largest IPO in history. On June 3rd (Thursday, one week before the listing), the three major US stock indices all fell sharply, with the Dow down 620 points, NVIDIA down over 3%, Microsoft down more than 3%, and Amazon down over 2%. It's not the small and mid-cap stocks suffering, but the giants being bled—JP Morgan estimates that to make room in indices for behemoths like SpaceX, passive funds need to sell nearly $95 billion worth of holdings in tech giants like NVIDIA, Micron Technology, Apple, and Microsoft. The fuller the expectations, the more determined the capital is to jump ship one week before realization.The two cases are exactly the same: a sharp rise in the month before the news, and a crash starting one week before the official realization.The lesson is just one: don't chase the tail end of the rally. $NVIDIA(NVDA.US)$Micron Tech(MU.US)$KNOWLEDGE ATLAS(02513.HK)"
datetime: "2026-06-05T16:15:53.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41542874.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41542874.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41542874.md)
author: "[阿修AX](https://longbridge.com/en/profiles/12691394.md)"
---

# The "tail end of the rally" in investing i…


### Related Stocks

- [02513.HK](https://longbridge.com/en/quote/02513.HK.md)
- [DXYZ.US](https://longbridge.com/en/quote/DXYZ.US.md)
- [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md)
- [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md)
- [MU.US](https://longbridge.com/en/quote/MU.US.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [DDM.US](https://longbridge.com/en/quote/DDM.US.md)
- [DIA.US](https://longbridge.com/en/quote/DIA.US.md)
- [DOG.US](https://longbridge.com/en/quote/DOG.US.md)
- [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md)
- [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md)
- [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md)
- [07552.HK](https://longbridge.com/en/quote/07552.HK.md)
- [07226.HK](https://longbridge.com/en/quote/07226.HK.md)
- [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md)
- [AMZU.US](https://longbridge.com/en/quote/AMZU.US.md)
- [NVDL.US](https://longbridge.com/en/quote/NVDL.US.md)
- [07788.HK](https://longbridge.com/en/quote/07788.HK.md)
- [07388.HK](https://longbridge.com/en/quote/07388.HK.md)
- [NVDY.US](https://longbridge.com/en/quote/NVDY.US.md)

## Comments (2)

- **蔡徐kun · 2026-06-05T21:12:05.000Z**: Yes, it's miserable.The speculation about inclusion into indices.0512
  - **我是究极无敌欧皇** (2026-06-06T16:27:31.000Z): Is there anyone who got in at the high point when it was listed?