10 Firms Suffer Amid Optimistic Market Environment

2. Full Truck Alliance Co. Ltd. (NYSE:YMM)

Full Truck Alliance dropped for a second day on Friday as investors sold off positions amid the lack of fresh catalysts to spark buying appetite.

While YMM—a digital freight platform connecting shippers with truckers in China—is not directly impacted by the ongoing trade tensions between the two of the world’s largest economies, it remains vulnerable to risks of reduced freight demand and domestic supply disruptions.

Last month, the company said that it was considering its public listing in Hong Kong to mitigate risks from the US-China trade tensions.

The company had initially planned a dual primary listing in Hong Kong in 2022 due to stricter audit requirements for US-listed Chinese firms but later axed the plan after the US audit said it gained full access to inspect and investigate firms in China for the first time ever.