$HJ SCIENCE-B(06132.HK) has dropped another -10%. This new biotech stock was halved directly within the first two days of its IPO. The high pricing around the issue price was quickly disproven in the secondary market. Those who got allocated shares in the IPO are now likely deeply trapped, while those watching from the sidelines are torn—with the stock breaking its issue price to this extent, is it an opportunity for a rebound play, or has the digestion of its high valuation only just begun? I lean more towards the latter. During a sentiment downturn, the price correction for biotech IPOs is often continuous; after being halved on the first day, it rarely hits the bottom in one go. It's safer to wait for trading volume to shrink and for shares to change hands more fully before taking another look.