Shares of the Shanghai-based firm began trading at 700 yuan ($99.40) on Wednesday on the tech-focused Star Market, jumping 569% from their offer price of 104.66 yuan ($14.86). It was trading at 792.02 yuan ($112.47) at last check. IPO Buzz Despite Losses This surge follows the company's successful initial public offering (IPO), which raised nearly $600 million. The IPO values the company at 56.4 times its 2024 per-share revenue. MetaX's revenue has surged fourfold year over year to 1.24 billion yuan ($180 m ...