市场观察：警惕港股“妖股”背后的风险

Core Viewpoint - The recent surge in small-cap stocks in the Hong Kong stock market, driven by the stablecoin trend, has attracted investor attention despite an overall market consolidation [1] Group 1: Market Trends - Several small-cap stocks have experienced significant price fluctuations, with some doubling or increasing over five times in a single day [1] - These stocks share common characteristics: small market capitalization, concentrated shareholding, and a long history of lacking investor attention [1] Group 2: Industry Insights - Multiple companies are planning to apply for stablecoin licenses in Hong Kong, indicating a growing interest in this sector [1] - There remains considerable debate within the industry regarding the profitability models of stablecoin issuers and their partners, suggesting potential challenges ahead [1]