Shares of AI Giant SenseTime Dive as Much as 51% as Lockup Expires

SenseTime’s shares ended the day down 47% at HK$3.13 ($0.40), their lowest ever and below the IPO price of HK$3.85.

(Bloomberg) — Chinese artificial intelligence software maker SenseTime Group Inc. slumped as much as 51% in Hong Kong Thursday after a lockup on shares expired following its December initial public offering.

The shares ended the day down 47% at HK$3.13 ($0.40), their lowest ever and below the IPO price of HK$3.85. A lockup on a portion of the stock owned by cornerstone investors and shareholders — amounting to 23.4 billion shares — expired Wednesday.