This Year’s Hottest IPO Is a Mystery and a Risky Bet. What to Know About FOFO.
FOFO surged over 900% post-IPO, closing at $40.32. Reported revenue for 2024 is only $2 million, with high related-party concentration. Chairman Qian Fenglei has potential ties to a Web3 platform. Hang Feng is categorized as a black box company with unclear financials. Experts warn that post-IPO surges are often short-lived and risky.
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