ZHIPU plunged over 17% in a short time; major longs with losses nearing 300% of principal are still adding positions to average down.

According to Hyperinsight monitoring, Zhipu (ZHIPU) on Hyperliquid plunged before the Hong Kong stock market opening. Within about 1 hour, it fell to a low of $120.7, a decline of about 17%; the decline continued during the Hong Kong stock market trading session.