Stock Track | KNOWLEDGE ATLAS Plummets 6.06% Intraday Amid Profit-Taking and Valuation Concerns

Stock Track

Jun 23

KNOWLEDGE ATLAS (HKG: 02513) saw its stock price plummet 6.06% during intraday trading on Tuesday, marking a sharp reversal from its recent parabolic rally that had pushed its market capitalization above the one trillion Hong Kong dollar threshold.

The decline reflects growing profit-taking pressure following the stock's extraordinary surge, which saw it double in just five trading sessions after the release of its GLM-5.2 model. Analysts have flagged the company's valuation as extremely stretched, with a price-to-sales ratio exceeding 1,300x based on its full-year revenue of approximately RMB 724 million.

Adding to near-term pressure is the upcoming unlock of cornerstone investor lock-up shares totaling approximately 25.68 million shares, scheduled for July 8. This would expand the tradeable supply by approximately 2.2x, given the current limited free float, creating a significant overhang for the stock. Market participants have increasingly cited this supply expansion as a headwind amid concerns about the sustainability of the company's trillion-dollar valuation.

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Analysts have flagged the company's valuation as extremely stretched, with a price-to-sales ratio exceeding 1,300x based on its full-year revenue of approximately RMB 724 million.</p><p>Adding to near-term pressure is the upcoming unlock of cornerstone investor lock-up shares totaling approximately 25.68 million shares, scheduled for July 8. This would expand the tradeable supply by approximately 2.2x, given the current limited free float, creating a significant overhang for the stock. 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