MINIMAX-WP shares plummeted 6.04% during intraday trading on Friday, extending recent weakness as the company faces multiple headwinds.

The stock decline comes amid growing market concerns over the company's first major post-IPO lock-up expiry scheduled for July 9. Approximately 146 million shares representing 63% of total share capital will become eligible for trading, potentially increasing tradable supply by nearly tenfold given the current actual free float of only around 5%. This has fueled sustained worries about potential selling pressure from early investors sitting on significant gains.

Additionally, MINIMAX-WP's recent product strategy adjustments have triggered negative market sentiment. The company's API pricing increases and switch from per-call to per-token billing have led to concentrated developer complaints, with some users already migrating to competing platforms. Analysts note that the company's frequent pricing and product changes have undermined its ability to build a stable, predictable service framework for long-term developer retention, damaging its ecosystem.