CXMT stock climbs on mass production of new memory chip platform
Shares of Chinese DRAM chipmaker CXMT Corp climbed 5.8% to 58.76 yuan, their highest since September 9. The company announced that its fifth-generation technology platform, designed to make more powerful memory chips at lower cost and with less power use, has entered mass production. CXMT also unveiled two 24-gigabit LPDDR5X chips. The stock is up 559.9% since its IPO debut on July 27.
76 yuan, its highest level since September 9, after the company said its fifth-generation technology platform had entered mass production. The stock was on track for its biggest one-day percentage gain since September 7 and was rising for a second straight session. CXMT said the new platform is intended to produce more powerful memory chips at lower cost and with less power use. The company also introduced two 24-gigabit LPDDR5X chips, a power-saving type of DRAM used mainly in smartphones and other portable electronics.
66 yuan per share. 2% year to date.