YMM
A whale hits the exit
Kontiki Capital Management just walked away from 20,380,969 shares of Full Truck Alliance, a stake worth an estimated $193.84 million. That’s not a casual trim; that’s the investing equivalent of grabbing your coat, saying “good luck,” and heading for the door.
Why you should care
For a stock like YMM, big institutional selling can matter even when it’s not tied to company fundamentals. A fund exit can pressure sentiment, especially if other investors start wondering whether the seller saw slower growth, tighter margins, or just a better place to park capital.
The fine print
A few caveats before you panic-scroll:
- The value is based on quarterly average pricing, so it’s an estimate, not a perfect tape read.
- We’re not seeing a company-specific scandal or earnings bombshell here — just a large holder changing its mind.
- Sometimes these moves are portfolio rebalancing, not an obituary for the stock.
Still, when a fund unloads nearly $194 million of a China logistics name, you don’t exactly shrug and move on like it’s a coupon code. Big picture: it’s a reminder that institutional money can be fickle, and in emerging-market logistics, fickle can get loud fast.