CR New Energy's roller-coaster ride: Market cap loses nearly 100 billion yuan in 7 days!

CR New Energy was listed on the main board of the Shenzhen Stock Exchange on July 2, with its intraday price surging up to 198% on the first day, closing with a total market capitalization of 311.5 billion yuan (approximately $4.09 billion). However, after just seven trading days, as of the close on July 8, its stock price continued to fall by 12.75% to 16.15 yuan, with the total market capitalization evaporating nearly 100 billion yuan (approximately $1.31 billion) from its peak. Analysts believe that the short-term surge driven by hype over the spin-off of a central state-owned enterprise and the mega-IPO theme led to a significant valuation premium, which has become the core reason for the sustained downward pressure on the stock.