Shares of Zhihu Inc. (NYSE: ZH), a leading Chinese question-and-answer platform, soared by nearly 13% on Thursday, October 4th, as retail investors continued to show strong enthusiasm for the company's growth prospects in the online knowledge-sharing market.

The stock rally was fueled by sustained interest from retail investors, who collectively own a significant 34% stake in Zhihu, making them the largest shareholder group. According to analysts, this sizable ownership position has allowed retail investors to have a substantial impact on the company's stock price movements.

Retail investors appear to be betting on Zhihu's ability to capitalize on the growing demand for user-generated content and social learning in China. With a loyal user base and a robust content ecosystem, the company is well-positioned to benefit from the increasing popularity of online knowledge-sharing platforms in the country.