As of the close, the three major A-share indexes plummeted across the board, with the Shanghai Composite Index plummeting -5.16% to close at 2985.44 points; the Shenzhen Component Index plummeting -7.00% to close at 12726.54 points; the ChiNext Index plummeting -4.46% to close at 1082.24 points.
The combined trading volume of the two cities released a huge volume of 532.3 billion, setting a historical record.
In terms of individual stocks, the most popular Weibo fell to the limit in the afternoon, with a closing price of 190.49 yuan. Today, it released 12.8 billion in capacity.
The funds that entered the market today, no matter who they were, ended up being buried. It took the index two weeks to rise, and all the big negative lines fell through.
Qunxing Capital completed the liquidation plan yesterday, and it was a very comfortable withdrawal, avoiding trampling on each other with the market.
…
Entering the weekend, a "little composition" caught Fang Hong's attention.
On Saturday morning, an article questioning the illegality of WeChat’s “voice function” appeared on the Internet and quickly spread over the weekend.
According to this "short essay", WeChat's "voice function" is Internet telephony, which falls under the category of telecommunications operations and requires relevant licenses, and WeChat obviously does not have a legal license.
Therefore, this is an illegal operation that violates laws and regulations and should be banned or shut down.
Moreover, this "little essay" stated that once WeChat rises, it will inevitably have a huge impact on the business of the three major operators.
The fermentation during the weekends can be determined by someone adding fuel to the flames, and the rapid expansion of influence lies in the objectivity of many contents of this "little essay", such as the impact on the operator's business.
Once WeChat becomes popular and everyone uses WeChat for long-distance communication, the demand for making phone calls will decrease. This is indeed objective, especially with the popularity of smart phones, it will be more obvious in an era when everyone has a smart phone. .
However, Fang Hong paid a little attention and didn't pay much attention.
China Unicom operator is currently the second largest shareholder of WeChat, and Xincheng Local State-owned Assets is the third largest shareholder. The most important thing is that Qunxing Capital has also accessed the top institutions of the five major national teams.
Who dares to cross provinces and come to Xincheng to arrest people and arrest the WeChat development team?
But at this time, some entrepreneurs who want to build mobile instant messaging software are a little worried about being caught, especially those without background, who may be sent to other provinces.
This short essay has actually reduced the emergence of WeChat’s competitors to a certain extent.
But big names like Goose Factory and Rebus are not afraid.
In short, to make mobile instant messaging software, it is not enough to have innovative technology and funds. You must also have strong enough background support!
The fermentation of this "little essay" had no substantial impact on WeChat, but Weibo's stock price took a hit, and staged an extremely tragic decline in the following week.
…
On Monday, November 15, the A-share market opened. Weibo opened sharply lower at 181.13 yuan -4.92%. After the opening, it started to weaken after a short pulse. After falling 7 percentage points in early trading, it maintained a volatile consolidation pattern.
At around 13:22 p.m., Weibo's stock price dropped to 171.44 yuan, hitting the lower limit, breaking the lower limit for two consecutive times. Today's trading volume was 9.527 billion yuan, breaking the shrinking limit.
Today's index fell 1.5 percentage points during the session, and then rebounded and rose by +0.97%, forming a K-line with a golden needle bottoming out.
But the next day, the market plunged again.
The market opened on Tuesday, November 16th, and the market opened in the morning with a similar trend to yesterday. It first fell by more than a point and then began to rebound. The script in the morning was similar, but the script in the afternoon was completely opposite.
Around 13:20, the index plunged again and plummeted for an hour. By around 14:20, the 2900-point mark of the Shanghai Composite Index was broken down in one fell swoop, and the lowest fell to 2885 points, a drop of more than 4 percentage points.
The entire market was wailing, and the two big negative lines directly broke through all the gains in the past month.
In terms of individual stocks, Weibo was even more miserable today. The call auction reached the price of 154.29 yuan, which directly hit the limit.
This is the first time Weibo has experienced three consecutive daily limit drops since its backdoor listing, and also the first time a one-word limit has occurred.
At 10:30, Weibo’s lower limit was pried open, triggering investors to follow suit. Why did they dare? Because the two cities' leading stocks will have a retaliatory rebound after a cumulative short-term sharp decline of about -30%.
Most of the people who came in today are using this logic to grab the rebound, and then prepare to take over tomorrow.
In the end, I never expected that it would be me who would take over.
In the afternoon, the index crashed like a stampede, causing Weibo's stock price to fall again and hit the daily limit. The trading volume that day was 7.653 billion yuan, further shrinking.
…
Wednesday, November 17th.
Weibo's bidding opened at a low of -6.66%, and it fell to the limit again that day. The stock price closed at 138.86 yuan, and the daily turnover shrank to 6.139 billion yuan. This was Weibo's fourth consecutive limit-down.
Thursday, November 18th.
Bidding on Weibo opened at a low of -5.67%, and fell to the limit again that day. The stock price reached 124.97 yuan, and the market value shrank to 66.1 billion. The daily turnover further shrank, today it is 5.214 billion yuan. Although the volume and energy continued to shrink, 52 The transaction scale of 100 million is still the largest transaction volume of individual stocks on the day.
The stock has fallen from its all-time high of 218.11 yuan last Friday to the current price of 124.97 yuan. The cumulative decline for five consecutive drops has reached -42.7%, which is close to being cut in half.
At this moment, the comment section of Weibo’s stock bar was filled with howls.
[Please call me Chasing Gao Mengshi, my code name is 218.11, who else? ]
[You won’t cut this? ]
[Leeks cannot be cut! ]
[Niu pen! ]
[Downward trends are not good for anything. ]
[The killing is so cruel! ]
[With 200 yuan, is there any hope of solving the problem? ]
[218.11 There is no suspense anymore in the universe. Let’s cut it off. The crazy feast that lasted for half a year is about to end. ]
[There is no stock that only rises but never falls, and no matter how good a company is, it is impossible for it to rise all the time. ]
[Any rebound is an opportunity to escape, run away, silly boy! ]
[They are all trapped in a horse trap, and they are still running around a lot! ]
[Easy to sell but difficult to buy, the stock price is unable to rise. Investors will run out of money when they die, and their market value will be cut in half. I want to cut my flesh and leave, but I'm afraid that the dealer will use his strength to sue me, and I won't be able to do anything about it. ]
[I was strongly opposed to Mr. Tianya’s withdrawal from the literary world... (face covering.jpg)]
[Literary heroes appear, and I feel like the bottom is about to come. ]
…
The author who published that "little essay" has now been criticized by investors who are stuck in Weibo stock, but it was an anonymous article, and the investors are equivalent to rushing into the air.
No one expected the power of one article to directly drive Weibo to four lower limits, evaporating 50 billion in market value. Adding the previous one, it would be five lower limits.
But in fact, it was just big money taking profits. As for that short article, it just accelerated the mean return of Weibo’s stock price.
Falling to the limit for five consecutive times is indeed too harsh and too hasty. This is the real collective irrational behavior, and the emotional tide ebbs.
Now the investors who are trapped by Weibo are confused when they see this stock falling to the limit for five consecutive days, and they cannot see the bottom of it at all.
But Weibo actually has a bottom line.
Because several major capital institutions are responsible for the management of Weibo's market value, several major domestic institutions such as Zhongtai Capital and Perennial Capital were already frantically distributing chips when Weibo's market value exceeded the 100 billion mark long before the first board fell to the limit. Cash out.
The funds raised by these institutions will be divided into three parts. The first part will be put back into their pockets as profits, and the second part will be used to support Weibo. Once the stock price drops, only a few major institutions will They will take action when the price is determined internally or when liquidity is extremely sluggish.
The third part of the money actually belongs to Qunxing Capital, but it is temporarily placed in the names of those institutions.
Because Qunxing Capital will also reduce its holdings in the future, but as the largest shareholder, if a shareholding reduction announcement is issued, the stock price will definitely fall to dog before Qunxing Capital officially reduces its holdings.
How to do it?
That is, institutions such as Zhongtai Capital and Perennial Capital will support the market at this time and withstand the selling pressure of the market to push up the stock price. This requires real money to undertake. Star Capital reduced its holdings and they paid for it. And the money they paid was the third part of the funds.
In this way, the third part of the funds was transferred from the secondary market to Qunxing Capital. There were no illegal operations in the entire process, and everything was executed in accordance with legal procedures.
Stars Capital doesn’t even have a drawer agreement with them, it’s more like a gentleman’s agreement, but the real core driving force behind this is – credit!
It is the credit of Fang Hong, the credit of Qunxing Capital, and the establishment of sufficient strategic mutual trust between the two parties.
The financial world is full of scammers and has no credibility at all, but it is also the most trustworthy world.
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