Moore Threads Falls 20% as 25.77 Million IPO Shares Unlock

Moore Threads fell by the 20% intraday limit on September 7, pushing its market value below 200 billion yuan. According to ChainCatcher, the decline came as 25.7745 million shares from the company’s initial public offering under placement restrictions were unlocked that day. A company staff member said the date marked a large unlock of restricted shares from the offline placement and urged investors to view the move rationally, adding that the company’s fundamentals remain normal.