CXMT Market Cap Hits 4 Trillion, Short Seller Faces $10.82 Million Loss

On-chain analyst Ember reported that Changxin Technology (CXMT) surged 5%, pushing its market cap above 4 trillion. A major whale who opened a short position on 2.9 million CXMT shares at $6.50 one month ago has incurred a total loss of $10.82 million. With the price now at $8.60, the trader faces a $6.3 million loss in asset value and $4.52 million in accumulated funding fees.