Is anyone still buying this company? After the 6-month lock-up period ended, AI model company MiniMax plans to raise HK$9.5 billion (about $1.2 billion) through a new share issuance, and an additional HK$6.5 billion through zero-coupon convertible bonds. If all the placement shares and bonds are converted, they will account for 17% of the company's total share capital. The stock price has already dropped over 80%, and now JPMorgan delivers another blow, cutting the target price for the second time in less than a week.