$ILUVATAR COREX(09903.HK) has plunged nearly 19%. This drop has a reason—the company is planning a share placement of at least $800 million in Hong Kong stocks. Since its listing, the stock has risen more than fourfold. The dilution from the placement combined with profit-taking has led to funds that had previously surged too fast starting to withdraw. The story of domestic GPGPU hasn't changed, but after a fourfold increase in a year, before a placement of this scale is finalized, it will likely take some time for the valuation to be digested.
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