Chapter 616 [The primary and secondary markets are both ice and fire]
Many institutions are very optimistic that the valuation of Xingyu Technology, a super large-cap stock, on its first day of listing will be around 4 yuan to 4. yuan. The corresponding market value is 1.1 trillion to 1.4 trillion yuan. The corresponding intraday
The range of increase is about 7% to 77%.
Because there is no price limit on the first day of listing.
The price limit on the first day of listing for new shares was implemented after January 1, 2014. The maximum price increase is 44% of the issue price, but this rule does not exist now.
In the long term, experts and many institutional analysts generally see the target market value of Xingyu Technology as above one trillion, and the price per share as above 8 yuan.
Some analysts also believe that Xingyu Technology, as a super large-cap stock, has a certain degree of comparability with CCB, Shenhua, etc. on its first day of listing. When Shenhua went public, it hit the market high and hit three consecutive daily limits.
Some institutional analysts are super optimistic and believe that the probability of Xingyu Technology doubling on the first day of listing is very high, and it is even expected to directly surpass Zhong Petroleum's 1.6 trillion market value on the day of listing and become the first in the A-share market.
They boast about performance and fundamentals, they boast about fundamentals and boast about future imagination. In short, they are all kinds of boasts, and they are optimistic about this stock from all aspects.
The primary market is booming, and the Xingyu Technology IPO has become the most eye-catching event in the capital market.
How popular is it?
The total fundraising scale of the IPO is 73.71 billion yuan. Offline institutions and large investors will allocate 63.71 billion yuan for subscriptions, and 10 billion yuan will be allocated for online new purchases.
The total scale of frozen funds confirmed offline for subscriptions has reached 394.9 billion yuan, more than six times the subscription scale. Institutions are rushing to subscribe, eager to divide up the 10 billion that will be allocated to retail investors.
However, compared with the total frozen funds of PetroChina's listing that year, which was as high as 3.37 trillion, it still pales into insignificance. The record of frozen funds for PetroChina's IPO has not been broken yet.
But it cannot be generalized. When PetroChina was listed, it was during a super bull market. The market was very optimistic about PetroChina. Some people even said, "If you buy PetroChina, you don't have to worry about food and clothing."
Jokes.
Now that Xingyu Technology IPO is on the market, Big A is in a bear market stage, liquidity has almost dried up, and the market index is also at 000 points.
Under such circumstances, there are nearly 400 billion in funds available to grab the 63.7 billion, which is already significantly higher than expected.
The primary market is booming, but the secondary market is extremely weak.
After the weekend weekend, the A-share market went sideways for two days. On Wednesday, September 6, the Shanghai Stock Exchange Index closed down -1.4%, setting a new record low. The index closed at 004.17 points, and the intraday low fell to 1999.48 points. It once fell.
It broke the 000-point integer mark and closed above 000 points after the market.
There is no minimum, only lower.
The primary and secondary markets are in a state of ice and fire, and many investors blame Xingyu Technology for the reason why the market fell below 000 points.
The reason is that this company's IPO has almost drained the market of funds. Not only has no incremental funds entered the market, but funds have been withdrawn from the market in a hurry to subscribe for Xingyu Technology to raise funds.
Look, 400 billion in funds are almost frozen now.
What I have to say is that it does have a siphon effect on the secondary market to a certain extent. Some institutions or large investors originally planned to use their money to buy stocks in the secondary market, but now Xingyu Technology IPO is raising funds.
, he changed his strategy and subscribed for this stock first.
Including some large investors or institutional investors who hold stocks on the market, they may also go out to subscribe for the Xingyu Technology IPO. The total frozen funds of nearly 400 billion are the most intuitive data.
Because the current issuance market value of 700 billion is not only not overvalued, it is definitely seriously underestimated.
3 Mobile phone sales are rising steadily, and the company is still increasing orders for chip processors, opening up new expectations.
Investors in the entire market are extremely convinced that the total market value of Xingyu Technology is definitely in the trillions. Some experts and institutions may have said that it is over one trillion, but now that the market value of the issuance is 700 billion, you will definitely make money if you buy it.
, and there is also a doubling expectation.
This is a business with a high probability of making money. Naturally, people rush to raise funds through the threshold and compete to participate in the subscription.
However, the secondary market suffered a lot. When the stock market fell sharply on Wednesday, the trading volume of the Shanghai Composite Index for the whole day was only a pitiful 38.4 billion. There was really no one to play, or they were lying flat and pretending not to move. Some people still ran away with the funds on the market.
There is no external incremental funds at all.
…
The next day, Thursday, September 7th.
When the big A investors were desperate, incremental funds began to enter the market to protect the market in the afternoon.
The incremental funds that came into the market to protect the market turned out to be Qunxing Capital, which was both protecting the market and buying the bottom. Since the index reached around 000 points, Qunxing Capital had been gradually buying at the bottom and continued to buy.
As one of the major players in the market, Qunxing Capital’s time to open a position is not like that of small retail investors, who can do it in one day.
Today's Qunxing Capital is not what it was two or three years ago. Today's capital volume is completely different. This layout is also for the epic bull market in 2001.
For Qunxing Capital to complete its layout, it will take at least one to two years to complete the bottom position building action.
The strategy of building a position is that if the executor abandons it, I will take it. If you are willing to cut the meat at this position, I will take it. If you don't want to cut it, I will wait. The index is too low. From time to time, I will protect the market and pull it up. The other side of the village will also be happy. At the same time,
The turnover rate also came out.
It is no exaggeration to say that with the liquidity currently held by Qunxing Capital, if we pull hard and dry regardless of the cost, we can really lift the entire A-share market from the current 000 points to over 3000 points within a month.
There is no problem.
But this kind of "bringing up good people" obviously cannot be done, and this kind of thing can only exist in theory.
…
At around 13:11 in the afternoon, the brokerage sector moved up and continued to rise for 1 minute, leading the market index to rise straight up. Around 13:30, the Shanghai Stock Index once rose by more than 3 percentage points, and the Shanghai Stock Index reached a maximum of 068 points.
This is why Qunxing Capital is protecting the market, and while protecting the market, it is constantly increasing its holdings of chips. Just buy it with your eyes closed near 000 points and that's it.
If you want to protect the market, just pull the three financial idiots with your eyes closed and you're done.
As of the close of trading, the Shanghai Stock Exchange Index rose sharply by .60%, closing at 06.3 points. Compared with yesterday's land volume, the trading volume can be regarded as more than 0 billion.
If Qunxing Capital does not take the lead in doing long today, the market index will probably go below 000 points.
The next day is Friday, September 8th, which is the last trading day before the National Day.
In the morning, the Shanghai Stock Index opened lower and moved higher, following a unilateral upward trend. It closed up 1.4% after the market closed at 086.17 points. It was still the incremental funds of Qunxing Capital that acted as the bullish flag bearer to push the index upward.
More than 1 billion entered the market today, and more than 17 billion entered the market today.
The rebound of the two long positive lines can be regarded as giving investors a stable short holiday.
