The next day, Wednesday, September 29th.
Today is the penultimate trading day before the A-share market holiday. The market will open one more day tomorrow before the National Day. The market will be closed for seven days during the holiday and will not open until Friday, October 8.
At the opening of the market in the morning, Weibo opened -5.73% lower at the opening price of 76.32 yuan in call auction. After the opening, the stock price plunged to 7 percentage points, and funds fled in panic. However, 20 minutes after the opening of the market, Weibo's stock price Stop falling and rebound.
At around 10:05, the stock price rebounded above the opening price. After another 10 minutes or so, the stock price rebounded all the way to today's highest price of 77.99 yuan during the day and then began to fall back.
This rebound was due to the upward trend of the market index. However, in the afternoon, the index also weakened. It rose by more than 0.8 percentage points in the morning. It plunged into the green around 2:30 in the afternoon and the decline expanded to -0.28 percentage points, a record high of -0.28 percentage points. It hit a new intraday low and almost fell below 2,600 points.
Weibo's stock price also fell sharply in the afternoon. At around 14:37 in late trading, the stock price dropped to 72.87 yuan, sealing the daily limit.
As of the close of trading, Weibo plummeted -9.99%, closing at 72.87 yuan. The trading volume for the whole day was 3.182 billion yuan, which was nearly 2 billion yuan higher than yesterday's volume, and the market value also shrunk to 38.5 billion yuan.
Today, the limit has been pushed, and Weibo's stock price has fallen by -50.46% from its highest point, which is halved!
The stock’s comment section was filled with curses and lamentations.
[Weibo’s user growth is obviously so strong and it ranks first in its industry. I’m really convinced that the stock price has come out of this trap. ]
[It turned out to be a big deal. The founders left their jobs in droves. There must have been major changes in the company. According to today’s data on the Dragon and Tiger rankings, all the institutions have left. Tomorrow it will hit the limit. ]
[Don’t talk about mythical institutions. Don’t institutions have money-losing leeks? ]
[Haha, at least the information channels of institutions are not comparable to those of retail investors. ]
[While crying, moving bricks and covering positions. ]
[Don’t go against the power of the trend, there is no bottom when it falls. ]
[There is no stock that only rises but never falls. It rose so much in the previous wave, and now it is in the mean reversion stage. Although it has been cut in half, the valuation is still very high, and the bubble is very huge. ]
[I cut it today, but fortunately it came out. I can only close the position with tears. It will definitely fall to the limit tomorrow. When I see 50 yuan, I will intervene at that time. ]
[I can only say stay away from explosive stocks. ]
[It’s so nonsense. I’m speechless. It was just listed under a backdoor scheme. It’s only been a month since I changed my name. ]
[To be fair, isn’t this normal? It is common for Internet companies to die within a few months. Weibo is already very impressive and is still the number one in the industry. It is normal for such stocks to fluctuate greatly. ]
[Others are afraid and I am greedy, Stud! ]
…
At about 17:00 in the afternoon, Quantum Beat Headquarters.
At this moment, Liu Qizheng, the leader of Zhongtai Capital, Xiao Quan, the leader of Perennial Capital, and four other capital institutions sent several vice presidents to a reception room of Quantum Beat Company, and Xu Jingren was receiving them.
These six capital institutions all have a common identity in Quantum Beat, which is that they are shareholders of Weibo, a subsidiary of the company, and they are also market makers or market value managers for Weibo.
They came today at the invitation of Xu Jingren. In fact, they had planned to come because yesterday's announcement was also coming, so they flew over directly.
"Mr. Xu, what are you doing? The four main founders resigned from Weibo, and the market was shocked." Liu Qizheng said. To be honest, they were a little panicked. The Weibo stocks they held were They are still in the lock-up period, and it is far from the time when the ban is lifted, and there are still capital costs for market makers.
"Don't worry, everyone, Weibo's operations are all normal. They left because the parent company Quantum Beats has four new projects to launch. They are just normal transfers of positions to be responsible for developing new businesses." Xu Jingren smiled slightly. road.
Starting a new business? Four of them were corrected at once? That is to say, each of Wang Ping and others who resigned happened to be responsible for one?
Liu Qizheng, Xiao Quan and others were surprised and at the same time looked confused.
At this time, Xu Jingren added: "The invitation to come here this time is also related to these new businesses."
Xiao Quan couldn't help but feel moved when he heard this, and immediately asked: "Mr. Xu, are you going to raise funds for these businesses?"
If you come to a venture capital institution like them, it must be for financing. Otherwise, why would you come here?
Xiao Quan and the others are actually willing to invest money in Quantum Beat's new business. After all, Weibo Zhuyu is at the forefront, which is much more reliable than those purely new entrepreneurial teams with no achievements.
Xu Jingren smiled and said: "Yes, but it is not financing, but borrowing from you."
Not financing? Go into debt? It's just borrowing money.
Xiao Quan and Liu Qi looked at each other, and the latter looked at Xu Jingren and asked, "How much do you want to borrow?"
Xu Jingren stretched out his right hand and spread out five fingers. Xiao Quan was surprised and said: "500 million?"
As soon as he said this, Xu Jingren shook his head and said, "No, it's 5 billion!"
Good guy!
Several CEOs of venture capital institutions were shocked on the spot. Xiao Quan couldn't help but raise his voice: "What did you say? 5 billion?"
Liu Qizheng immediately said: "Mr. Xu, with all due respect, I don't need to conduct due diligence to conclude that Quantum Beat does not have sufficient collateral at all, and its credit cannot reach 3A level. You don't care if we want 50 I’m afraid I can’t give you 100 million, even 500 million is not enough.”
Xu Jingren was very calm and said calmly: "Everyone, what if this debt is guaranteed by Qunxing Capital?"
Clam?
Xiao Quan, Liu Qizheng and other six major VC institutions were stunned. The vice president of another institution quickly said: "Are you sure Qunxing Capital will guarantee your company?"
Xu Jingren nodded and smiled: "Not bad."
After a while, Liu Qizheng immediately looked at Xu Jingren and raised a question: "Mr. Xu, there is a question that I don't quite understand. The largest shareholder of Quantum Beating is Qunxing, right? Why don't you care about Qunxing, your parent company?" Money, come to us for money instead? Qunxing’s recent actions seem to me that all they have left is money.”
This was also the doubt in Xiao Quan's and others' minds, and everyone nodded in agreement.
Xu Jingren looked around at everyone and said calmly and confidently: "Actually, I asked Qunxing for money from the beginning, and Qunxing can afford it, but the parent company asked me to ask you for money."
Xiao Quan immediately asked: "Why is this?"
Everyone is also very curious.
Xu Jingren said with a smile: "I also asked, this is what the parent company told me. He said that there is some money that Qunxing can make but not, and it is left to others to make, and it is left to partners to make. Is the money earned?" Finished."
This statement surprised Liu Qizheng and others. They all looked at each other in confusion, guessing that Qunxing Capital was probably quite satisfied with their work as market makers on Weibo and was really doing their job. So this counts as giving a piece of the pie?
Xu Jingren asked for a huge amount of 5 billion in funds. Under normal circumstances, it would be impossible to lend him money because the risk exposure is too great. Weibo, the product that Quantum Beats can offer, is not profitable yet. Moreover, it has not yet broken out in the field of microblogs, and everything in the future is unknown.
But with Qunxing Capital guarantee, it's completely different.
The originally huge risk exposure was immediately reduced. To put it more directly, this is a business that is almost guaranteed to make a profit. There will definitely be a large number of financial institutions in the market rushing to lend money to Quantum Beats.
At the end, Liu Qizheng said simply and neatly: "Since the stars are guarantors, it's okay. I, Zhongtai Capital, will take 1.5 billion, and you can do whatever you want with the rest. If you can't take it, I can take in a little more."
Xiao Quan said unhappily: "Come on, just open your mouth and cut off almost a third of it!"
The last second everyone was reluctant, but now they are rushing to eat it in the blink of an eye, because this debt is so high-quality, even if their own liquidity is not enough, they can definitely do a fund bridge to get enough money, and the interest rate will be certain It is a considerable business with a sure profit and no loss. This kind of business is rare.
After a while, Liu Qizheng looked at Xu Jingren and said, "Mr. Xu, why don't your company just borrow more?"
…
