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Yushi Technology has fallen about 45% from its peak, but the selloff alone doesn't make it a bargain. It debuted at 1,100 yuan after an IPO price of 150.8 yuan, then closed its first day at 845 yuan. By August 25, its market cap had dropped to 243.8 billion yuan, with the stock around 602.8 yuan. Even after the correction, that's still roughly 4x the issue price. The lesson is simple: heavy retail interest and sentiment can push valuations far beyond fundamentals.