Xiaomi Plumbs New Lows as Early Investors Dump Shares
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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