Understanding the Market | Will Keep, which has plummeted by 34%, continue to fall?
After being listed for half a year, Keep's stock price has fallen by 70%, and it has also experienced a continuous seven-day decline! Why is Keep still likely to continue to fall in the future? It's because the six-month lock-up period for Keep's stocks will end next Friday!
On Thursday, January 4th, the stock price of Keep, known as the "number one sports technology stock," plummeted by 34%, reaching a new low of HKD 9.
Regarding this sharp decline, Keep stated that the company has not received any news or information.
However, it is worth noting that this is the seventh consecutive day of decline for the stock. When it was listed on the Hong Kong Stock Exchange in July last year, its IPO price was HKD 28.92. This means that the stock has fallen by nearly 70% from its IPO price in the past six months.
Will it continue to decline in the future? It is highly possible!
This is mainly because the six-month lock-up period for the stock is about to end!
According to the general principle of a six-month lock-up period for listed companies, on January 12, 2024, Keep's shares will be unlocked, and it is expected that a new round of decline will occur at that time.
