Moore Threads Falls Over 10% After Lockup Expiration

Moore Threads opened lower on September 8 and quickly dropped more than 10% intraday, hitting a new low of 371.17 yuan. According to ChainCatcher, the stock was down more than 8% at 380.76 yuan, with a market value of 179 billion yuan. The company fell by the daily limit on the previous day, and its market value slipped below 200 billion yuan. On September 7, 25.7745 million IPO placement shares became unlocked. When asked about the reason for the decline, a company staff member said the day marked a large lockup expiration for placement shares and urged investors to view the move rationally, adding that the company’s fundamentals remained normal.