CXMT's largest short seller begins stop-loss unwinding, expected to lose $10.84 million

TechFlow reports that on September 24, according to YuJin monitoring, the largest short seller of CXMT began cutting losses after holding the position for approximately two months. The address has planned to cover 2 million short shares via TWAP (time-based execution) orders, valued at roughly $17.04 million. This address previously shorted 2.9 million shares at $6.5 per share, facing an estimated total loss of approximately $10.84 million, which includes funding fees of around $5.24 million.