Stock Track | SUNMI TECH-W Plummets 5.19% Intraday as Post-IPO Profit-Taking Continues

Stock Track

05/05

SUNMI TECH-W's stock fell 5.19% during intraday trading on Tuesday, continuing its recent downward trend and hitting a new historic low.

The decline is attributed to sustained profit-taking pressure following the company's spectacular IPO debut. SUNMI TECH-W listed on the HKEX main board on April 29 and saw its stock surge as high as 99.80 HKD on the first trading day, representing a peak gain exceeding 300%. Since the second day of trading, the stock has faced concentrated selling from investors locking in gains.

Dubbed the first AI commercial IoT stock, SUNMI TECH-W is the world's largest commercial IoT infrastructure provider, with overseas revenue accounting for approximately 75% of total revenue and serving around 64,000 commercial partners globally.

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