Sun's consistent strategy is to acquire massive amounts of chips at low cost or even for free, then create hype and marketing. After going public, he ruthlessly dumps the stock to harvest profits; a 50% drop is just the beginning, and zero is the endpoint.
The U.S. listed company Tron, with Sun spending not a penny, stuffed 300 million TRX into a shell company controlled by his father, then exchanged that shell company for 86% equity in the U.S. listed company. After a series of hype including ringing the bell and changing the name, he went public and then dumped the stock, leading to an 80% crash in less than two months.
Similar cases include BTT, JST, HSR...
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