The Wall Street Journal
Chinese AI Champion SenseTime’s Stock Tanks as Investor Lockup Ends
SenseTime Group Inc. shares fell by nearly half, erasing nearly $12 billion in market value, as some investors in the Chinese artificial-intelligence company rushed for the door after a six-month lockup period ended. To do that, it had leaned on a few major investors who had promised not to sell for six months—a commitment that ended Wednesday, along with lockups for some other early investors. SenseTime stock tumbled 47% on Thursday to 3.13 Hong Kong dollars a share, slashing its market capitalization to the equivalent of about $13.4 billion, according to FactSet.
