Changxin Whale Short Loses $7.4M Amid $22.86M Open Position

A major trader holds a $22.86M short on Changxin, suffering $7.4M in losses including $3.4M in funding fees over two weeks.

Woofun AI reports that a significant market participant established short positions in Changxin (CXMT) one day prior to its public listing. The position, valued at approximately $22.86 million with an entry price of $6.5 per share, has remained open for roughly half a month. During this period, the account incurred $3.4 million in funding fees and a floating loss of $4 million, totaling $7.4 million in cumulative losses. Analyst Yu Jin observed that even if the asset price reverts to the $6.5 entry level, the trader must absorb the ongoing accumulation of high funding costs.