$Global Mofy AI(GMM.US) dropped by more than nine percent, which is quite eye-catching; $DEEPEXI TECH(01384.HK) also fell five to six percent. This wave of selling in small-cap Chinese AI stocks has been quite harsh; $KINGSOFT(03888.HK) saw a slight drop, supported by the cash flow from its gaming and office software businesses, making it relatively resilient. These small-cap stocks have poor liquidity and are sold off first when sentiment weakens; they fall quickly when there is no earnings support to back them up 😔
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