MiniMax Shares Surge Over 20% Ahead of Lockup Expiry as Wall Street Turns Bullish

On July 8, MiniMax experienced a dramatic share price surge on the last trading day before its lockup expiration, with intraday gains exceeding 20%. Lockup expirations typically create downward pressure as early investors and employees become eligible to sell, making MiniMax's rally particularly notable.

Three Wall Street investment banks published bullish reports on the stock ahead of the lockup expiry, assigning positive ratings to the Chinese AI company. Analysts cited MiniMax's sustained technical accumulation in large language models and its product deployment capabilities as key valuation drivers.

Market sources indicate that over 80% of shareholders have expressed intent to hold their positions long-term rather than sell at lockup. This ratio significantly exceeds market expectations and signals strong confidence in the company's mid-to-long-term prospects.

MiniMax is among China's leading players in the AI large model race, with consumer-facing products including Hailuo AI. The company has continuously iterated on video generation and language models, building influence both domestically and internationally.

The pre-lockup rally reflects a market reassessment of MiniMax's fundamental value. At a time when AI companies broadly face commercialization pressure, securing endorsement from both Wall Street banks and major shareholders sends a meaningful signal.

Analysts note that actual trading performance after the lockup will be the more critical test. While shareholders have signaled long-term commitment, the market will watch for real sell-side pressure and subsequent price action.

For the broader AI industry, MiniMax's case offers a reference point for other AI companies approaching public markets — investors are increasingly rewarding technical moats and commercial execution over pure narrative.