Aug 5, 2021
Kuaishou Craters After Lockup Expired, Widening Tech Rout
Bloomberg News
,(Bloomberg) -- Kuaishou Technology fell its most since debut after a post-IPO lockup on share sales expired, extending a Chinese tech selloff to the country’s largest listed social video service.
Kuaishou fell as much as 15% in afternoon trading in Hong Kong, its most since listing in February. A six month lockup period on the TikTok-rival expired Aug. 4.
©2021 Bloomberg L.P.