'China's Nvidia' Moore Threads Shares Surge Over 500% In Blockbuster Shanghai IPO
Strong Bullish
89.4
Shares of chipmaker Moore Threads Technology, dubbed China’s Nvidia (NASDAQ:NVDA), rose as much as 502% as it debuted in Shanghai on Friday.
IPO Proceeds For Massive R&D
Moore Threads’ shares debuted at 650 yuan ($91.92) on the STAR Market, a 468% surge from their IPO price of 114.28 yuan ($16.16), even as the broader market, the CSI300 Index, was trending lower.
The stock touched 688 yuan during the session. The massive debut followed a robust response to the IPO, which was oversubscribed by more than 4,000 times.
Moore secured 8 billion yuan ($1.13 billion) in what stands as the mainland's second-largest IPO of the year, following Huadian New Energy Group Co.'s $2.7 billion IPO in July.
Despite not yet being profitable, the company’s revenue in 2024 grew over threefold, as per its pro
IPO Proceeds For Massive R&D
Moore Threads’ shares debuted at 650 yuan ($91.92) on the STAR Market, a 468% surge from their IPO price of 114.28 yuan ($16.16), even as the broader market, the CSI300 Index, was trending lower.
The stock touched 688 yuan during the session. The massive debut followed a robust response to the IPO, which was oversubscribed by more than 4,000 times.
Moore secured 8 billion yuan ($1.13 billion) in what stands as the mainland's second-largest IPO of the year, following Huadian New Energy Group Co.'s $2.7 billion IPO in July.
Despite not yet being profitable, the company’s revenue in 2024 grew over threefold, as per its pro
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This analysis was generated using Pulse AI, Glideslope's proprietary AI engine designed to interpret market sentiment and economic signals. Results are for informational purposes only and do not constitute financial advice.
