AXS has been quite interesting in this recent market movement. From the chart, the upward momentum is clearly shrinking, and the hype is fading quickly. Basically, there are two possibilities: either the expectation of the old business line restarting has been dashed, or that previous surge was purely speculative hype. Judging by the current performance, the phrase "value reversion" is quite appropriate — indicating that funds are re-evaluating the project's fundamentals. In the short term, it's unlikely to see a significant upward surge unless there is a new positive catalyst to break the deadlock.