Shares in Hong Kong-based cloud solutions provider ChowChow Cloud (CHOW) have tumbled by over 70% from their Initial Public Offering (IPO) price of $4.00 per share in mid-September.
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As of 1:17 p.m. EST on Thursday, CHOW dropped by 33.88%, adding to a loss of more than 84% from the previous day’s trading session. In response to the development, ChowChow Cloud clarified that there has been “no [new] material development” in its business operations to cause such a plunge.
CHOW’s Plunge Coincides with Oracle Q2 Selloff
The drop coincides with falling stock prices seen among specialized AI cloud capacity providers such as CoreWeave (CRWV), Nebius (NBIS), and IREN (IREN), and AI chipmakers such as Nvidia (NVDA), Broadcom (AVGO), and Advanced Micro Devices (AMD), following cloud and software giant Oracle’s (ORCL) disappointing Q2 2026 earnings results.
“The company has made inquiries and has been unable to determine whether corrective actions are appropriate at this time,” ChowChow noted in a statement.
What Does ChowChow Do?
ChowChow provides solutions that enable businesses to run on the cloud by designing, migrating, and managing clients’ technology infrastructure. The company focuses on the Asia-Pacific region, especially Hong Kong and Singapore.
As an information technology company, ChowChow is not a hardware-focused AI infrastructure provider like CoreWeave and Nebius. However, it deploys AI to provide proactive and automated maintenance of its clients’ cloud environments. It also uses AI to monitor and optimize its cloud management services.
ChowChow started trading on the NYSE American on September 17, raising $10.4 million in gross proceeds from its IPO. NYSE American, unlike the main NYSE exchange, is where businesses with small market capitalization are listed.
Is CHOW Stock a Buy, Hold, or Sell?
On Wall Street, ChowChow’s shares do not have analyst coverage.
However, TipRanks’ Technical Analysis page indicates that the stock’s Overall Consensus/Technical Sentiment over the past month is Strong Sell. This is based on four Bearish and one Neutral sentiment.
