Source: 🗒️ Polymath Investor
CXMT's 466% single-day pop signals Chinese investors' appetite for domestic semiconductor alternatives to Micron, Samsung, and SK Hynix—and willingness to pay speculative premiums before the company has proven manufacturing scale or competitive yields. The threat isn't CXMT's current valuation but the Beijing-backed capital and state support behind it, which can subsidize losses while the company climbs the learning curve that typically takes years for memory chip makers to master. This shifts geopolitical risk in one of the few remaining hard-to-replicate supply chains where China has historically relied on imports.