Caixin
Jan 09, 2019 05:28 PM
BUSINESS & TECH

Xiaomi Plumbs New Lows as Early Investors Dump Shares

A Xiaomi store in Shenyang, Liaoning province on Dec. 2. Photo: IC
A Xiaomi store in Shenyang, Liaoning province on Dec. 2. Photo: IC

Shares of smartphone maker Xiaomi Corp. sank to all-time lows Wednesday on volume not seen since shortly after its blockbuster initial public offering (IPO) last year, as investors sold the stock following the end of a major lockup period.

The high volatility prompted the company to issue a statement saying its CEO and CFO wouldn’t sell their shares for at least another year in a show of confidence in Xiaomi’s future.

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