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2026-07-06 10:40:38 MINIMAX-W (00100.HK) fell 4.5% this morning (6th) after Citi sharply cut its TP and added the stock to a 30-day negative catalyst watch. In a report, Citi said MINIMAX-W's recent share price correction and diverging performance may reflect controversy surrounding the pricing of its M3 model launched in early June, as well as lukewarm market reception, while new models introduced by industry leaders and other Chinese peers have continued to impress, with sales even surpassing those of M3. The broker said that although the company has attempted to take measures to restore user confidence, it believes negative sentiment, user retention rates and uncertainty over monetization models may still pose headwinds in the short term. In addition, as the company's IPO lock-up period will expire on July 9, although the founder and major strategic investors including BABA-W (09988.HK) and miHoYo have voluntarily committed to a 12-month lock-up period, the broker expects MINIMAX-W's share price to remain volatile. However, Citi said that if the upcoming AI video generation large model Hailuo 3.0 can help MINIMAX-W regain positive market feedback, it may ease the headwinds facing the stock price. The broker slashed MINIMAX-W's TP from HKD1,330 to HKD533 and placed the stock on a 30-day negative catalyst watch, while maintaining its "Buy" rating. (ha/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |